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Julian Dunkerton is giving up the role of chief executive of SuperGroup, the Superdry people, to become its “founder and product and brand director”.
What a strange job title. Being a founder isn’t a job, surely. It describes the fact that you started the company, rather than the role you perform there today. Will co-founder James Holder, currently brand and design director, want his title amended to keep pace with inflation?
Never mind. If Dunkerton feels somebody else is better placed to manage the nuts and bolts of the operation as chief executive, it is sensible to hire an experienced retailer.
Euan Sutherland, former boss of Superdrug and B&Q, and briefly chief executive of the Co-op Group, fits the bill. Once upon a time he was regarded as a potential FTSE 100 boss. The nature of his departure from the Co-op, which he declared to be “ungovernable”, probably made that impossible, at least for now.
The SuperGroup posting will bring different governance challenges. Dunkerton owns 32% of the company and Holder has 12%; Sutherland is a hired hand. Whose word is law in the event of a disagreement? At least they all know each other, since Sutherland has been a non-exec for two years. But you never can tell how a changed relationship will work until it is tried.
There is one other small point. On day one, Sutherland declared himself to be dressed almost “head to toe” in Superdry gear. Full marks for effort, but is this wise? Too many middle-aged blokes parading a supposedly “urban” label may not be good for business. Mr Sutherland is 45.
