Harrods Boss Ward To Step Down This Year
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Loading... - CARMINA SANTOS
- 11 Mar 2020
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The boss of Harrods is to step down this year after a decade at the helm of the world's most famous department store.
Sky News has learnt that Michael Ward's departure, which is expected to take place this summer, was announced internally to Harrods staff on Thursday evening.
It is unclear whether a successor has been lined up to fill Mr Ward's role at the Qatari-owned company.
Mr Ward, a former executive at Apax Partners, joined Harrods in 2006 when it was owned by Mohamed Al Fayed.
In 2010, the Knightsbridge landmark was acquired by Qatar Holding, an investment arm of the Gulf state's sovereign wealth fund, for £1.5bn.
Attracting 15m shoppers annually, Harrods has weathered tougher trading conditions, paying its owners a £103m dividend for the year to the end of January 2015.
Mr Ward, who has been an outspoken critic of the Government's indecision to expand airport capacity in the south-east of England, has overseen the extension of the Harrods brand into areas such as hotels, and expanded its retail interests.
A Harrods spokeswoman declined to comment.
