Former CEO returns to Glassons

Former Glassons chief executive Di Humphries has returned to the womenswear retailer's fold – for the third time.

Listed parent company Hallenstein Glasson [NZX: HLG] announced this morning Ms Humphries had been reappointed as chief executive of Glassons.

She left the top position in 2012 to take a merchandise and brand manager role at Pumpkin Patch before becoming its chief executive but resigned in June last year to  “focus on her future career goals.” According to LinkedIn, she has spent the past six months as an executive consultant.

This isn’t the first time Ms Humphries has returned to Glassons – in 2009 she was reappointed managing director of the brand, less than two years after she quit the role in December 2007 to spend more time with her daughter, who was 18 months old at the time.

She has also been executive director of Hallenstein Glasson, head of buying at Ezibuy and has more than 25 years’ retail experience here and in Australia.

Hallenstein Glasson chief executive Graeme Popplewell says in a statement to the NZX Ms Humphries has an in-depth understanding of the Glassons business, having built the retailer to “its most successful period” when she was with the company between 2000 and 2012.

“The board and I are confident that Di will build the business, improve profitability and strengthen our position in New Zealand and Australia as more global players enter these markets. It’s a coup for us to get Di back and with the focus on improving the Glassons fashion offer, Di’s expertise and leadership will be key.”

Last month, Hallenstein Glasson posted a 21% drop in first-half net profit after tax, as gross margin fell to 56.8% from to 60.4%. 

Glassons NZ made first-half NPAT of $1.4 million, down from $2.3 million the year before while Glassons Australia increased its loss to $785,000, from $184,000 the year before.

After Ms Humphries resigned in October 2012, Tracy Shaw was appointed in February 2014 but she resigned just six months later.

A general manager, Sebastian Coles, was appointed mid-2015 to recover lost ground. Analysts put the continued poor results at Glassons partly down to this high management churn.

Ms Humphries, who will start the role immediately, says the time away from the business gave her “fresh perspective on both its challenges and opportunities.”

NBR has requested an interview with her.

Hallenstein Glasson shares last traded at $2.84 and have fallen 15% this year.

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