Karren Brady, the former boss of West Ham United and a member on the panel of the top TV show The Apprentice, is to become the new chair of Taveta Investments, the parent company of Sir Philip Green’s Arcadia empire. She will be replacing Lord Anthony Grabiner who has been in the business for 15 years, according to The Guardian.
Sir Philip Green said: “On behalf of the Taveta board, I would like to thank Lord Grabiner for his 15 years’ service and to wish him well for the future. I am delighted to announce that Baroness Karren Brady will be appointed as non-executive chairman. Baroness Brady joined the Taveta board as a non-executive director in September 2010 and will assume the role immediately.”
Taveta owns Green’s Arcadia business that runs various high street fashion chains giving an annual turnover of more than £2bn ($2.6 Billion). The brands include Burton, Dorothy Perkins, Evans, Miss Selfridge, Topshop, Topman, Outfit and Wallis. It also used to control BHS before selling the retailer to Dominic Chappell for £1 in 2015.
Baroness Brady says that “It is a privilege to have been invited to chair the board and I look forward to working with my colleagues as we concentrate on driving the Arcadia brands forward on their global expansion.”
This announcement comes after the company’s most recent reports suggesting a 16% fall in profits last year.
