Harrods has appointed Geoff Weaver as its new CFO. Weaver joins the luxury department store from TUI Group.
He began his role last week, replacing former CFO Tim Parker, who left Harrods in May after three years to “pursue other opportunities”.
“As we continue to invest in our transformation and future growth, I am delighted to welcome Geoff to Harrods,” said Harrods MD Michael Ward.
“His commercial acumen, digital expertise, and people-first leadership will be instrumental as we continue to evolve our business and reinforce our authority in luxury across all categories and channels.”
Weaver spent 14 years at travel giant TUI, in a number of finance roles including as finance director for markets and airlines, and as director of TUI Technology. Prior to that he worked for big four auditor KPMG.
He joins Harrods in the midst of a major turnaround plan under its Qatari owners.
Profits fell by 35% to £111.5m last year, in part due to a hefty insurance policy. Sales grew for the second consecutive year thanks to improved footfall, however, after the retailer relaunched its dining and food hall.
The retailer was also rocked by a BBC documentary revealing allegations of a decades-long campaign of sexual abuse by former owner the late Mohamed Al Fayed, including allegations made by former Harrods employees.
Harrods said it is “appalled by the allegations”, which occurred under a different ownership, and appointed Jasvinder Sanghera as an independent survivor advocate as part of its own internal investigation.
Harrods was also among the retailers targeted by cyberattacks last month. However it was able to avoid extensive damage seen at the likes of M&S and Co-op after intentionally shutting down some of its core IT systems.
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