Kathmandu founder Jan Cameron has taken over running Retail Adventures, the discount chain operator that she plucked out of receivership nearly three years ago.
Cameron’s increased involvement follows the resignation on Wednesday of Kit Cheong who was the chief executive of Retail Adventures.
Cheong’s resignation comes hot on the heels of former chief executive Rowan Webb who was with the company for only several months last year.
Get daily business news.
The latest stories, funding information, and expert advice. Free to sign up.
Cameron has pumped an extra $17 million into the discount variety retailer, which operates Crazy Clark’s, Go-Lo, Chickenfeed and Sam’s Warehouse.
She will be assisted by Retail Adventures director Penny Moss who will move into the role of chief operating officer.
”We have reached a pivotal point in the transformation of the Retail Adventures business, and as a result our owner, Jan Cameron, will step into the role of managing director,” the company told suppliers in a statement yesterday, according to a report in The Australian.
”Kit Cheong, our chief executive officer, yesterday announced her resignation from the business.
“Kit leaves us on the best of terms, and will remain with us over the next few months as we transition to new leadership.”
Brian Walker, founder of retail operation specialists Retail Doctor Group, believes Cameron’s move to take the reins was “symptomatic” of a tight retail environment.
“This is an opportunity to re-evaluate their strategy and position and that is exactly what they are doing,” he says.
“They have got investors to look after and she is doing what a lot of chief executives are doing which is getting back close to the business and having a much closer hand on the rudder.
“I don’t know the reason for the departure of the executive but it probably has something to do with a change of strategy.”
Cameron and Retail Adventures were not available for comment.