Kevin Keaney who had held the CEO role at The Works for almost nine years has stepped down following a profit warning. He has been replaced by the retailer’s CFO Gavin Peck with immediate effect. The business will now be scaling back its programme of store openings. Interim results showed underlying pre-tax losses of £8 million for the 26 weeks to October 27th.
Keaney said: It is the right time for me to hand over to a new CEO to lead The works through its next phase of development. Whilst this has been a very difficult decision, it feels like the right time to take a break, spend time with my family and think about what I want to do next.”
Chairman Dean Hoyle commented: “He (Keaney) has helped establish The Works as a leading multichannel retailer, has built a fantastic culture and successfully guided the company through its IPO in 2018.”
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