Burton denies chief is to leave
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Burton Group, the Debenhams and Dorothy Perkins retailer, yesterday dismissed City speculation that John Hoerner, chief executive, was to step down as "completely unfounded".
Rumours swept the stock market late on Thursday that Mr Hoerner might make way for Stuart Rose, the chief executive of the Burton Menswear, Dorothy Perkins and Evans subsidiaries.
But Mr Hoerner said yesterday: "There's no truth in it. Absolutely none at all." He also said there were no plans for a management reshuffle at a lower level, or that the company was set to issue a trading statement. "We will put out a statement in the middle of July as usual," he said.
Burton shares rose 4p to 128.5p on the statement. They had fallen slightly the day before in heavy late trading.
A decision by Mr Hoerner to stand aside would have surprised the stock market as he has been credited with the revival in the company's fortunes.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments