Luxury department store Harvey Nichols has announced that it is axing the position of CEO as part of a staffing overhaul.
Stacey Cartwright, who took on the position of CEO in 2014, will step into the role of deputy chairman at the start of 2018.
In her new role, Cartwright will oversee the evolution of the Harvey Nichols brand whilst also pursuing other non-executive interests. She will continue to report to Harvey Nichols chairman and owner, Sir Dickson Poon.
Instead of replacing the role held by Cartwright, the retailer has announced that it will appoint two co-chief operating officers to take over the day-to-day running of the business.
Group commercial director of Harvey Nichols, Daniela Rinaldi, and group finance director, Manju Malhotra, will fill the new positions, with both reporting directly to Cartwright and Sir Dickson.
Cartwright said: “Daniela and Manju each bring a wealth of experience to their new roles, with highly complementary skill sets. I’m delighted to be announcing their promotions and I look forward to working alongside them.
While a spokesperson from the company has revealed that the two positions are permanent and the company is not looking for a new head honcho, it has also been reported that as the two COOs develop, there is scope for one of them to take over Cartwright’s position as CEO.
Rinaldi added: “We have made great strides in our strategy to transform the business and I am committed to driving Harvey Nichols forward through the next phase of our growth.”
Malhotra concluded: “I look forward to continuing the transformation of our unique brand and working closely with Daniela to lead the business to further success”.