Arcadia has appointed Burberry’s chief merchandising officer as chief executive of both Topshop and Topman.

Paul Price, who has spent the past decade at Burberry, formerly held senior roles at Banana Republic and Bloomingdales.

He will join Topshop on September 4.

Owner Sir Philip Green said: “I believe Paul will be a great catalyst in leading the next phase of Topshop/Topman’s global expansion.”

The appointment came in the wake of an exodus at Arcadia, which included the high-profile departure of Topshop managing director Mary Homer to head up The White Company.

Topman managing director Philip Cooke, who has been in his role for one year but at the retailer for over a decade, will remain in his role.

Evans managing director Fiona Ross, Burton managing director Wesley Taylor and Miss Selfridge creative director Yasmin Yusuf also left their roles.

Arcadia’s rofits and sales slid last year. Operating profit was down 16% from £252.9m to £211.2m on sales down from £2.07bn to £2.02bn.

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