Chris Holmes, managing director of Austin Reed Group, is quitting the company to join Tesco’s international non-food division early in the new year.
Holmes will be reporting to international support office director Dido Harding. He will be responsible for clothing and hard lines in the non-food category side of the business. Holmes was promoted from trading director to MD in a management shake-up at Austin Reed three months ago.
The clothing retailer has been the subject of takeover speculation after reporting an interim loss of £2.7m in the 28 weeks to August 14 compared with a profit of £1.1m in the same period last year.