The chief executive of clothing chain Country Road has resigned, just months after the company reported lower same-store sales and a 13.6 per cent fall in profit.
South African giant Woolworths Holdings, which owns Country Road and bought David Jones in 2014 for $2.1 billion, said in Tuesday that Matt Keogh was resigning to "pursue new career opportunities".
He had been in the role for just two years and will be replaced by Scott Fyfe, a 20-year veteran of British retail giant Marks and Spencer.
Woolworths said in late August that Country Road's like-for-like sales in the 52 weeks to June 26 had fallen 3.9 per cent due in part to unseasonably warm weather.
11-year stint ends
Adjusted profit before tax fell 13.6 per cent to $95 million.
Woolworths chief Ian Moir thanked Mr Keogh for his "significant contribution across our group in Australia and South Africa over the past 11 years". Mr Fyfe said he was looking forward to living in Melbourne with his family.
Mr Keogh's resignation comes almost exactly 12 months after Ian Nairn resigned suddenly as CEO of David Jones.
Woolworths shares have fallen 20 per cent since the start of 2016.
