Superdry co-founder Julian Dunkerton extends stay as chief

Julian Dunkerton
Mr Dunkerton was embroiled in a spat with the previous management  Credit: PA

Superdry’s founder Julian Dunkerton will stay on until 2021 to help steer the retailer's turnaround. 

Mr Dunkerton narrowly emerged victorious in April from a bitter battle with the retailer’s previous management. 

He launched a campaign to be reinstated at the helm having left the business in March 2018 after disagreeing about the design of the clothes and how its wares were sold online and in stores. 

Some industry observers have argued that Superdry’s travails are down to the brand losing its relevance in a fiercely competitive market. 

The shares have tumbled by three-quarters over the past two years. 

Mr Dunkerton's return to the board prompted an exodus of directors. He went on to slash the dividend and warn that the current financial year would be compromised as it is a year of transition. 

Shareholders backed his longer tenure on Monday, with the shares climbing by 3.3p to 436p. 

Mr Dunkerton and co-founder James Holder still own almost a third of the business between them. 

He said: “We are already seeing early signs of progress and while this will take time, we are excited to realise the brand's full potential.”

His base salary will remain at £600,000 and he could get pension benefits of up to £9,300.

He could also get a bonus of up to £600,000 in the financial year 2020 if he hits certain targets. 

Peter Williams, the chairman of Superdry who previously ran upmarket department store chain Selfridges, said: “Julian has already been working closely with the team to execute this plan and while much remains to be done, the necessary foundations are being laid.”

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