Department store Arnotts has named Nigel Blow as its new chief executive officer. Mr Blow, a former CEO of Brown Thomas, will take up the post in early October.
Arnotts, which is struggling with debts of €300m, is now under the control of Anglo Irish Bank and Ulster Bank.
In August, a leading retail specialist and CEO of private equity firm Palladin Capital Group, Mark Schwartz, was confirmed as chairman of the Arnotts board. He also announced plans for a review of the management team.
David Riddiford, CEO of Arnotts Limited since 2007, is to step down at the end of September. Mr Riddiford had decided to leave Arnotts earlier this year after the indefinite postponement of the Northern Quarter project which he joined the company to lead.
'I have been working in this market for over three years and have a good understanding of the merchandises and retail experience our customers desire,' said Mr Blow.
