House of Fraser Stores Ltd. CEO John King is resigning from the British department store chain. He’ll be replaced by Nigel Oddy, who is the retailer’s chief operating officer.
King had overseen House of Fraser, No. 98 in the Internet Retailer 2014 Europe 500, for the past eight years. He will remain involved with the retailer by serving as a non-executive director on the retailer’s board.
As CEO, King oversaw the chain’s sale of 89% of its business to luxury Chinese department store chain Nanjing Xinjiekou Department Store Co. Ltd. last year. That move sparked an aggressive international expansion plan that includes building physical stores in China and the Middle East.
“House of Fraser is well positioned to enter the next exciting stage of its development as we look to build the brand internationally,” King says.
Oddy has held senior positions at a number of retailers, including Marks & Spencer, where he ran the retailer’s Hong Kong operations. He has worked at House of Fraser since 2007.
“I look forward to building on John’s strategy to drive international expansion and continue our investment in our stores, brands and our multichannel offering,” Oddy says.