Jan 10, 2019

Debenhams shareholders vote bosses off board

The chief executive of Debenhams has been voted off the retailer's board, but will remain in his role, the troubled retailer has said. Chairman Sir Ian Cheshire was also voted off the board and will step down. The board said Mr Bucher was not re-elected to the board "Principally as a result of the votes of the same two major shareholders" who voted against Sir Ian - that is, Sports Direct and Landmark Group. "Debenhams board said it was"mindful of its responsibilities to all shareholders and has full confidence in Sergio and in the management's plan to boost the business. Sir Ian had been on the Debenhams board for two years.

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