Further board disruption at Pumpkin Patch

Children’s clothing retailer Pumpkin Patch [NZX: PPL] has announced two changes to its board to try to better navigate the struggling retailing environment, a day before reporting annual results tomorrow morning (Friday).

Non-executive director Maurice Prendergast – chief executive of the company between 1993 and 2011, and director since then – will retire as of October 1 and Bruce Cotterill will be appointed independent director the same day.

Chairwoman Jane Freeman, who is also on her way out,  acknowledged Mr Prendergast's long service but said the changes complete the board’s review of the skills and expertise needed to support the company’s strategies.

“[Mr Cotterill’s] experience leading businesses successfully through transformation will be invaluable as Pumpkin Patch implements the changes from the strategic review process,” she said in a statement to the NZX.

Currently MOVE Logistics chairman, Swimming New Zealand deputy chairman and a Director of Blue Ocean Capital director, Mr Cotterill has a long association with managing New Zealand businesses.

He was previously Noel Leeming Group chairman, Yellow Pages Group chief executive and and Woosh Wireless director.

Most of the retail sector has strugged with a slow start to winter and increased competitiveness as clothing retailers in particular tackle the rise of online shopping and a high kiwi dollar, which has seen New Zealand bargain hunters shop offshore.

Analysts Forsyth Barr expect Pumpkin Patch – one of the last companies to report – to be the weakest retailer out of a watery lot this reporting season.

The company has already signalled double-digit profit decline on the PCP.

Shares in Pumpkin Patch, the third worst performer on the NZX's All Ordinaries Index this year, fell to an all-time low in July as investors mull its outlook in an increasingly competitive apparel environment.

However, the company has been looking to revive its performance this year, appointing former Glassons managing director Di Humphries as chief executive last August and in March announcing a strategic review including a close look at its IT infrastructure in a bid to make its distribution and supply chain management more efficient.