Next's finance director to leave, Reiss CFO to step up

By

Nigel TAYLOR

Published
Jul 29, 2024

Amanda James has finally stepped down as Group Finance Director of Next after fulfilling a nine-month grace period. She will, however, remain an employee until after the retailer’s interim results on 26 September, bringing to a close “28 years of outstanding service”, according to her fellow board members.

She has been replaced by Jonathan Blanchard, formerly CFO at Reiss, which is majority (72%) owned by Next.

James, who is to retire from full-time work aged 52, played a key role in Next’s ongoing success and expansion alongside chief executive Simon Wolfson.

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In a statement the Next board said: “Amanda has been planning this change for some time and it coincides with her husband’s retirement.

“Amanda has made a huge contribution to the group in her 28 years with Next and has been an exceptional guardian of our finances. Out financial position today is testament to her diligence and hard work".

Blanchard officially picked up the CFO reins at Next earlier this month. He joined Reiss as a director in 2017 and as CFO played a critical role at the firm, negotiating and implementing its transition to the Next Total Platform. In September, Next upped its stake in Reiss from 51% for £128 million. Around the same time James announced her wish to retire and Blanchard was named Next CFO elect.

And as mentioned, Next results have continues to impress. In its last trading update in May, the fashion-to-home-to-beauty retailer said in the 13 weeks to 27 April, Next Trading full-price sales were up 5.7% versus last year, slightly ahead of its guidance. It maintained its sales and profits forecast for the full year with group profit before tax to be up around 4.6% at £960 million.

The company has another update due later this week.