Company chair Falcon Clouston has announced that Kirkcaldies’ temporary chief executive will relinquish his position from the end of this month. Shewell is the company’s former managing director, and was appointed acting CEO in March this year after John Milford moved on to a role at Business Central.
Wellington department store Kirkcaldie & Stains posted an after tax loss of $501,000 in the six months ended February 28. The results aren’t promising for the troubled retailer, which is still deciding on a permanent CEO and recently had to sell one of its buildings to pay off $23.5 million in bank debt.
Kirkcaldie & Stains has appointed former managing director Philip Shewell as acting CEO while it searches for a replacement for John Milford. The former CEO of eight years resigned in December to move onto being the CEO of Business Central, which incorporates the Wellington Employers’ Chamber of Commerce.