Onward
Harvey Nichols CEO Manju Malhotra Steps Down
The chief executive, Manju Malhotra, has resigned from her position at the high-end department store, Harvey Nichols, after serving for 25 years.
In January 2020, Malhotra was appointed as the top executive and is set to leave the company by the year-end.
Pearson Poon, the son of Sir Dickson Poon, who has owned Harvey Nichols through his company Dickson Concepts since 1991, will take on the role vacated by Malhotra.
Until a permanent successor is found, Pearson Poon, an executive director, will carry out the duties of the vice chairman.
Sharing her thoughts, Malhotra stated, “During my remarkable 25 years at Harvey Nichols, I transitioned from being a member of the finance team to assuming the position of CEO.”
She added, “I consider myself fortunate to have collaborated with numerous skilled individuals and partners both within the UK and internationally.”
“Together, we have fortified Harvey Nichols, capitalizing on its position in the market as a luxury destination, providing exceptional in-store and digital customer experiences,” Malhotra further remarked.
Sir Dickson Poon, Chairman of Harvey Nichols, lauded Malhotra’s contributions, emphasizing, “Manju played an essential part in steering the business through unprecedented challenges and establishing stable foundations that we will continue to build upon in the future.”
Harvey Nichols has been grappling with recovery efforts since the start of the pandemic.
The luxury department store retailer experienced losses of £30 million in the year leading up to May 2022, marking a significant decline from the £2.7 million profit in 2020.
Despite a 58% increase in sales for the period, reaching £192 million compared to the previous year’s £121 million, the figures still fell short of the pre-pandemic level of £222 million.
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