ScS CEO to retire as group performs “in line with expectations”
ScS Group CEO David Knight, who joined the business 32 years ago, has announced his retirement from full-time executive responsibilities, and has given 12 months’ notice.
Chairman Alan Smith comments: “David has committed a very substantial part of his working career to ScS and has been pivotal to its success. We are delighted that he will remain in the role of group CEO until we have his successor in place and ensured an orderly handover.”
ScS states that it traded in line with expectations in H1 (to 25th January 2020), and was encouraged to see LFL order intake growth of +1.2% YoY for the last nine weeks, including the key winter sales period. This was an improvement on the first 17 weeks of the year, which saw LFL order intake decline by -7.1%. In all, LFL order intake fell -4.4% during the half.
“Whilst we are mindful of the continued economic uncertainty and subdued consumer confidence, we believe that this focus puts us in a strong position to take advantage of opportunities which will add value in the longer term,” states the group.