Quiz’s chief financial officer, Gerry Sweeney, announces his departure after eight years, amid efforts to reverse declining sales.
- Sweeney is set to remain active in his role until March 31 next year to aid in the transition process.
- The fashion retailer is engaged in finding a qualified successor to fill Sweeney’s role.
- His departure coincides with the company’s current financial challenges, marked by notable losses.
- Both Sweeney and Quiz’s CEO express optimism about the company’s potential growth despite recent setbacks.
Quiz’s chief financial officer, Gerry Sweeney, has announced that he will be stepping down after more than eight years in the role. His resignation comes as the company navigates significant financial hurdles, having recorded a pre-tax loss of approximately £7 million in the fiscal year ending March 31.
Sweeney joined the fashion retailer in 2016 and has played a pivotal role in its financial strategies. Despite the challenges facing the company, Sweeney remains positive about its future. He expressed his belief in the company’s potential for a turnaround under the current CEO, Sheraz Ramzan, indicating that Quiz has the capacity to return to profitable growth.
To ensure a seamless transition, Sweeney will continue in his position until the end of March next year. During this period, he will support the selection and integration of his successor, as the company has initiated a recruitment process to appoint a new chief financial officer.
Sweeney’s decision to step down is reportedly driven by his desire to explore new opportunities. However, he affirmed his dedication to assisting the company during the upcoming transition phase, encouraging a smooth handover of responsibilities.
Quiz faces significant financial obstacles at this juncture, making the recruitment of a new chief financial officer critical to its turnaround efforts. Despite these challenges, both Sweeney and Ramzan have articulated a shared confidence in the company’s path ahead. Ramzan expressed gratitude for Sweeney’s commitment and contributions over the years, underscoring the collaborative relationship that has developed during his tenure.
The departure of Gerry Sweeney marks a significant transition as Quiz aims to overcome current financial challenges and move towards future growth.
