Dunelm's John Browett steps down for 'personal reasons'

Homewares retailer Dunelm Group announced on Wednesday that John Browett will be stepping down as chief executive for personal reasons, with immediate effect.

The FTSE 250 company said it has made good progress over the last two years during Browett’s tenure, but added that the next phase of growth would require “different leadership”.

“I would like to thank John for his contribution to the business and the strategic progress made under his leadership, most notably the exciting acquisition of Worldstores,” said Dunelm chairman Andy Harrison.

“We will immediately start a search for John's replacement and, in the meantime, I will provide interim executive leadership, supported by Will Adderley, our Deputy Chairman, and Keith Down, our CFO.”

Harrison said Dunelm remained the “market leader” in homewares, adding that the board had “ambitious and profitable” growth plans to continue building the UK's “biggest and best” multi-channel homewares retailer.

“We have a strong executive team in place to make this happen, and the board remains confident in the group's future prospects.”

John Browett said he was pleased to have led the development of Dunelm over the last few years, and felt that he had achieved much in a challenging retail environment.

“It is, however, time to move onto a new challenge, and I am looking forward to the next chapter of my career.”

The group said it would announce results for the financial year ended 1 July on 13 September, which would be in line with the trading update issued on 7 July.

It said trading in the first two months of the new financial year had started positively, with an encouraging like-for-like sales performance.