Selfridges boss Andrew Keith has made a shock departure from the luxury department store

Andrew Keith has stepped down as CEO at Selfridges after more than three years in the role and four years at the luxury department store, as first reported by Women’s Wear Daily.

The publication reported that he is leaving the business to “pursue new ventures”.

Andrew Keith joined Selfridges in 2020 as managing director before being promoted to chief executive in February 2021.

He will be succeeded by Selfridges Group chief executive André Maeder, who joined the luxury retailer in May from his previous role at German department store KaDeWe.

Selfridges Group chair Tos Chirathivat said the business was thankful for Keith’s contribution to the UK arm of the business.

He said: “He has been an invaluable member of the Selfridges team, leading the business out of the Covid lockdowns and through its acquisition in 2022.

“The launch of the Selfridges strategy under Andrew’s leadership has resulted in many new customer innovations and enhancements. He has also been instrumental in helping to drive and champion the brand’s creative expression through a roster of world-leading collaborations and thought-provoking campaigns.”

Keith called his time at the helm “an honour” and added: “From my first day I have sought to build on its amazing reputation as a creative, inspiring destination where everyone is welcome.

“However, I feel that now is an appropriate time to leave the business and pursue new ventures. I am proud to be leaving Selfridges in such a strong position and to pass the baton to André to continue this journey with our great team.” 

The news comes amid a turbulent time for Selfridges after its future was under threat when co-owner Signa revealed it was “in the midst of a funding crisis” and filed for insolvency last November.

This came after Signa first acquired Selfridges alongside Thai multinational conglomerate Central Group in a deal worth around £4bn in 2021.

Bloomberg reported earlier this month that a Selfridges investor, the Saudi Arabia Public Investment Fund, is eyeing a larger stake in the business following the collapse of Signa.