Ferry den Hoed, Etam Groep's COO, will leave the company on 1 September 2014. The other board members will take charge of his duties until they find a replacement.
"After careful consideration"
According to Etam Groep, the decision was taken "after careful consideration with the board of commissioners and directors", RetailNews writes. No information has been divulged about the reason for the departure and what den Hoed will do next after his 3-year stint as the fashion group's COO.
Etam Groep has had to reveal it suffered serious losses in the past fiscal year, which has apparently been the case for a few years already according to a court file. The group has been restructuring since last year resulting in a job loss of 140, necessary to save less profitable stores, the company said.
Huge investments in the online branch should help the company to grow, while it is also investing growth possibilities in the neighbouring countries like selling its Promiss collection through Neckermann Belgium. CEO Jon van der Ent believes it is an easy growth option: "To be able to grow across the border within our current supply chain and with low costs? Why not?"