Thorntons chief executive Jonathan Hart is to step down from the position after failing to reverse a long-term trend of lacklustre sales and growth at the business.
Hart will leave the company at the end of June, to be replaced by chief operating officer Barry Bloomer as interim until a successor can be found.
The move follows a poor spring for Thorntons, which is traditionally given a boost in the quarter which includes Mothering Sunday and Easter. In the 15 weeks to April 25th this year the company revealed like-for-like sales growth of just 0.1%.
Hart, who took over in 2011, has struggled to return the retailer to significant growth and has been forced to close stores amid fierce competition from supermarkets.
The commercial arm of the business has also been squeezed by falling demand from supermarkets buying its products wholesale. At the end of April the retailer revealed a 6.1% like-for-like drop in commercial sales, citing falling orders from one key customer – understood to be Tesco – as a contributing factor.
Thorntons chairman Paul Wilkinson said: “Over the past four years Jonathan has turned around our Retail business, as well as creating and delivering the vision and strategy that will serve as the platform for the continued transformation of Thorntons into an international consumer goods business.
“On behalf of the Board, I would like to thank Jonathan for his significant contribution and wish him well for the future.”
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