Debenhams CEO formally resigns as profits rise

Endaba Group

Debenhams boss Michael Sharp announced in October that he would be stepping down this year after 5 years at the helm. He formally handed his resignation in on Thursday but will continue to serve as Chief Executive until his replacement is announced. Sharp’s resignation comes just as the brand’s profits rise, with their latest results recording underlying pre-tax profit of £93.8m for the 6 months to 27 February, and an increase in sales of 1.6% to £1.63bn. Sharp has agreed a 12 month notice period, and will receive full pay and benefits that total £772, 999.