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PRIVACY
Retail & Consumer

Clarks chief executive steps down to take on 'broader responsibilities'

Victor Herrero was appointed to the role in February following a takeover by LionRock Capital

A Clarks high street store.(Image: Birmingham Mail)

The chief executive of Clarks has stepped down after less than a year in the role.

The Somerset-headquartered shoe retailer has confirmed that Victor Herrero, who was appointed in February, will remain on its board and will look to take on “broader responsibilities” within parent company LionRock Capital.

The firm said chairman Johnny Chen would assume the role of interim chief executive with Mr Herrero’s permanent replacement to be announced in “due course".

In a statement a Clarks spokesperson said: “The Clarks business is on track to meet or exceed its forecast revenue goals, and our debt and cash positions have been considerably improved in the last few months.

“The loosening of pandemic restrictions in our key markets and the strong management of costs in the past six months have resulted in the delivery of a much-improved financial position in rapid time.

“Clarks confirms that chairman Johnny Chen will now also assume the role of chief executive as an interim measure and allow former chief executive Victor Herrero to take on broader responsibilities within the LionRock/Viva China group of companies.

“Victor has done an incredible job in a much shorter than anticipated time and gives us a unique ability to accelerate the next stages of our growth plans. Victor Herrero will remain on the Clarks board. A new chief executive will be announced in due course.”

Last month more than 100 Clarks staff at its Westway warehouse in Street started strike action over a controversial 'fire and rehire' policy the company said would help protect the future of the firm, which was founded in 1825.