Will Kernan, the CEO of River Island, will step down in 2023 and leave RIver Island to “pursue personal projects,” reports WWD. No replacement has yet been appointed. Kernan will work with Clive Lewis, the company’s chairman, on a handover process.
Kernan took office as River Islands’ CEO in 2019, just nine months before the outbreak of the pandemic. Kernan doesn’t only have experience in the fashion world: he previously worked at the bicycle company Wiggle and ran The White Company. Today, Kernan still has a foothold outside of the fashion world as chairman of biscuit company Biscuiteers, WWD reports.
Just two months ago, River Island released a financial report that showed the company returned to profitability for the first time last year after suffering losses early in the pandemic. While the company has managed to beat its pre-pandemic earnings numbers, it still warned that “trading has become more difficult as costs rise and consumers remain cautious,” WWD explained.
This translated and edited post previously appeared on FashionUnited.nl.