Postie Plus says Ron Boskill to step down after 7 years as CEO
Aug. 23 (BusinessDesk) - Postie Plus Group said chief executive Ron Boskell will step down in January after seven years leading the clothing retailer.
Boskell is departing “to make way for further renewal in the management team” as it works to extend the Postie brand and looks at acquisitions, the company said in a statement.
“The right time to leave with the transformation of the retail chain into a modern, exciting retailer well advanced,” Boskell said.
He is currently overseeing the relocation of the company’s headquarters to Auckland from Christchurch, to be closer to customers and growth markets, and completing a restructure of the executive leadership team, the company said.
The shares last traded on the NZX at 22 cents and have fallen 15 percent this year.
In May, the company disclosed it was in breach of a banking covenant under its arrangements with Bank of New Zealand, the same month as shareholders approved the sale of its Babycity chain.
First-half sales fell 4.6 percent to $54 million, resulting in a small net loss.