Andrew Keith to Leave Selfridges After Four Action-Packed Years
In a season of surprises in C-suites and design studios across Europe, WWD has learned that Andrew Keith is leaving as chief executive officer at Selfridges.
Keith, who joined Selfridges as managing director in 2020 and pushed Selfridges’ ambitious green agenda, will leave the store in the autumn.
His tenure was certainly eventful, encompassing COVID-related lockdown and travel restrictions, the sale of Selfridges, the bankruptcy of its co-owner Signa, and a round of layoffs announced earlier this year.
According to an internal memo seen by WWD, Keith is leaving of his own accord, and plans to pursue new ventures. André Maeder, CEO of Selfridges Group, will take over his responsibilities.
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The group comprises Selfridges in the U.K., De Bijenkorf in the Netherlands, and Brown Thomas Arnotts in Ireland.
Tos Chirathivat, chairman of Selfridges Group and executive chairman and CEO of Central Group, which co-owns Selfridges, said the company was “grateful to Andrew for his contribution to the success of our iconic U.K. business. He has been an invaluable member of the Selfridges team, leading the business out of the COVID lockdowns and through its acquisition in 2022.
“The launch of the Selfridges Strategy under Andrew’s leadership has resulted in many new customer innovations and enhancements. He has also been instrumental in helping to drive and champion the brand’s creative expression through a roster of world-leading collaborations and thought-provoking campaigns. We thank Andrew for his hard work and wish him all the very best in his future endeavors,” Chirathivat added.
Keith said it was “an honor to lead Selfridges over the past few years. From my first day I have sought to build on its amazing reputation as a creative, inspiring destination where everyone is welcome. However, I feel that now is an appropriate time to leave the business and pursue new ventures. I am proud to be leaving Selfridges in such a strong position and to pass the baton to André to continue this journey with our great team.”
Maeder, a retail veteran, said he was looking forward to working with the Selfridges team. “We will focus our efforts on innovation, enhancing customer experiences, and maintaining the exceptional quality that defines our legacy. Together, we will ensure that our brand continues to set the standard in the industry, providing the unrivalled offering Selfridges is renowned for.”
Keith assumed the CEO role last year after Central Group took a majority stake in the retailer. Central took its stake after Signa, its partner in the business, fell on hard times. Signa has since declared insolvency, and handed itself over to restructuring experts. It plans to sell its minority stake in Selfridges.
Earlier this month, Saudi Arabia’s Public Investment Fund, which already has a 10 percent stake in the Selfridges retail properties, was reported to have offered a cash price of 1 million pounds for Signa’s 40 percent stake in the retailer.
Keith, who was previously president of Lane Crawford and Joyce in Hong Kong, did not have an easy ride at Selfridges. In May, he revealed that the store was planning to cut 2 percent of its headcount, or 70 roles, in what has been a challenging period for British retail, and for the luxury business.
The job cuts pertained to “specific head office functions,” rather than shop floor staff. Selfridges blamed the cuts on “market conditions, and the evolving needs of our customers” as well as the cancellation of the tax-free shopping program in the U.K., which effectively gave foreign shoppers a 20 percent discount on their purchases.
As reported, British businesses have been repeatedly urging the U.K. government to restore tax-free shopping in the U.K., which was eliminated following the country’s exit from the European Union.
