Former Tesco UK boss to chair retail company N Brown

N Brown trades through brands including Simply Be

The former UK boss of Tesco is to become one of the FTSE 350’s youngest chairman after landing a job at online retailer N Brown.

Matt Davies was replaced at Tesco by Booker chief executive Charles Wilson earlier this month, following the grocer’s £3.7bn merger with Booker a year ago.

Mr Davies is expected to be announced as chairman of N Brown later this week, succeeding Andrew Higginson who confirmed his intention to step down in June after almost five years at the company.

Despite only being in his mid-40s, Mr Davies has already been chief executive of retailers Pets at Home and Halford, before being poached by Tesco boss Dave Lewis in 2015 in the wake of a damaging accounting scandal.

Mr Davies joins N Brown at a relatively uncertain time. The company, which owns brands JD Williams, Simply Be and Jacamo, was forced to cut prices at the end of last year in a bid to encourage more spending from customers.

Chief executive Angela Spindler said that the business had taken action after realising that shoppers were “feeling the pinch”, and the move boosted sales over the 18 weeks to January 6 by 3.2pc.

The company has also become more heavily reliant on its finance arm, which offers customers the ability to stagger payments, than in recent years.

Earlier this month it also boosted its executive team with three new appointments, including a chief information officer, a chief people officer, and a director of supply chain.

The company is based in Manchester and employs more than 2,600 people in the UK.