1 Oct 2008

Clothing retailer appoints acting chief executive

12:51 pm on 1 October 2008

Clothing retailer Hallenstein Glasson has appointed an acting chief executive.

Roy Dillon, who is currently the managing director of the Hallensteins chain and has been on the board for the past eight years, will fill the role following the departure of Shayne Quanchi after six months at the helm.

Mr Dillion takes over at a tough time for the company, which faces intense competition and declining consumer spending.

Hallenstein's annual profit tumbled 25% to $15.8 million. With sales continuing to fall, the retailer doubts it will match last year's half year profit of $10 million.