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Superdry Shares Surge 11.2% on Board Reshuffle Confirming Dunkerton as CEO

Simon Mugo trader
Updated 16 Dec 2020

Practice Stock Trading
Superdry store

Shares of Superdry PLC (LON: SDRY) today surged 11.2% after the company announced another board reshuffle confirming its founder Julian Dunkerton as the permanent CEO, which the current chairman Peter Williams will leave next year.

Dunkerton had served as CEO since co-founding the company with James Holder in 2003 up to 2014 when he left the company due to fundamental disagreements about design and expansion strategy.

Dunkerton forcefully rejoined the company in 2019 as the interim CEO, a position he was supposed to hold until April 2021, while the board found his successor, but today’s news has him back in full control of the company.

Peter Williams, the current chairman announced that he will leave the company next year having joined it in April 2019 when Dunkerton returned to the company supporting his new role.

Superdry also announced the appointment of Silvana Bonello, a former Nike and Vans executive as its new chief operating officer (COO).

Dunkerton explained: “With Silvana joining the executive team, we now have the right operational leadership to steer the business through these most uncertain times and drive the brand reset as we seek to inspire our customers with design-led, sustainable product and engage with them through our digital channels,”

Analysts at Liberum said the new moves should inspire long-term confidence and provide greater structure to the company going forward.

Superdry share price

Tradingview chart of Superdry share price 16122020

Superdry shares surged 11.2% today to trade at 267.2p having rallied from Tuesday’s closing price of 240.2p.

Simon has over six years of professional trading experience across FX, commodities and equities. He has a strong passion for financial markets and is particularly focused on price action trading