Next chief financial officer Amanda James is stepping down from her role and retiring from full-time work after 28 years at the retailer in July next year.
James is reportedly set to leave the group on September 26, 2024, and will step down from the board two months earlier.
Next said in a statement that James has been planning to step down “for some time” and that her decision “coincides with her husband’s retirement”.
The fashion giant said James had made a huge contribution during her time in the role, as well as being an “exceptional guardian” of the retailer’s finances.
Next has named Reiss chief financial and operating officer Jonathan Blanchard as James’ successor. He will join the business from February next year and take up his new role next July.
Blanchard has been a board director at Reiss since 2017, having formerly worked as a qualified accountant, and he has more than 30 years of finance experience.
He has also worked in private-equity-backed businesses over the past 25 years across retail and consumer sectors, with “a wealth of experience implementing rigorous financial and capital controls”.
Next said in a statement: “Amanda has made a huge contribution to the group in her 28 years with Next and has been an exceptional guardian of our finances.
“Our financial position today is testament to her diligence and hard work. The board is extremely grateful to Amanda for her excellent service to the group.
“We are pleased to announce that Amanda’s successor will be Jonathan Blanchard, currently CFO at Reiss. Jonathan played a critical role at Reiss, not least negotiating and implementing the transition to Total Platform.
“We have worked closely with Jonathan for over three years and believe that his skills are well suited to Next’s financial disciplines and its culture.”
The news comes after Next announced its purchase of private equity firm Warburg Pincus’ 34% stake in Reiss last month, which upped the retailer’s total stake in Reiss to 72%.
Next bought out the private equity firm for £128m and the terms are expected to be complete later this month, following a “period of strong continued growth for Reiss”.
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