Debenhams Group has appointed Stefaan Vansteenkiste as CEO. Vansteenkiste joined Debenhams in April 2019 as chief restructuring officer, working closely with the executive team on a new business plan to deliver a turnaround.

Vansteenkiste is an experienced turnaround expert at professional services firm, Alvarez & Marsal. He is also a seasoned CEO and retail operator; taking the role of CEO or advisor at a number of large retail and consumer companies.

Chairman of Debenhams Group, Terry Duddy, will work with Vansteenkiste to ensure an orderly handover. He will then step down from the board in September.

“The board welcomes Stefaan’s appointment as CEO,” says Duddy. “We concluded he is the right person to take the business forward into the next stage of its recovery.

“Stefaan has already made a strong contribution since joining Debenhams and has the support of our investor consortium to drive forward our turnaround plan.”

Vansteenkiste, adds: “The retail industry faces a challenging environment and everyone at Debenhams acknowledges that. But we have a clear plan and Debenhams has a great team of people committed to delivering it.

“I am very excited about Debenhams’ strong prospects and with a restructured balance sheet there is a robust platform from which to build a turnaround based on Debenhams’ clear brand focus, broad customer reach and differentiated product offer.”