James Retires as Next Group Finance Director, Reiss CFO Jonathan Blanchard to Fill Role
Amanda James has stepped down as Group Finance Director of Next after a dedicated nine-month transition period. She will continue her association with the company until the retailer’s interim results on September 26, marking the end of what her board colleagues describe as “28 years of outstanding service.”
James’ position has been taken over by Jonathan Blanchard, the former CFO at Reiss, a company 72% owned by Next.
At 52, James is retiring from full-time work, having played a pivotal role in Next’s growth and success alongside chief executive Simon Wolfson. Reflecting on her departure, the Next board stated,
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. Our financial position today is testament to her diligence and hard work.”
Blanchard, who assumed the CFO role at Next earlier this month, joined Reiss as a director in 2017. During his tenure as CFO, he was instrumental in transitioning Reiss to the Next Total Platform. In September, Next increased its stake in Reiss from 51% to 72% for £128 million. Around that time, James announced her retirement plans, and Blanchard was named as her successor.
Next’s performance continues to be strong. In the last trading update in May, the retailer reported a 5.7% increase in full-price sales for the 13 weeks ending April 27, surpassing its guidance. The company maintained its sales and profit forecasts for the full year, projecting a group profit before tax increase of around 4.6% to £960 million.
The company is set to release another update later this week.