House of Fraser CEO Nigel Oddy has resigned from his position at the UK department store after less than two years.
According to multiple reports, when House of Fraser was bought by Sanpower, a Chinese firm owned by Yuan Yafei, Yafei said the firm would invest £75 million into the company, a promise he has yet to keep.
House of Fraser’s management team has been frustrated with the firm, which has led multiple executives to resign, including Chief Customer Officer Andy Harding and Oddy’s predecessor John King. Additionally, the retailer’s Supply Chain Director Ray Kavanagh is set to depart next.
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