The Reject Shop (ASX:TRS) CEO steps down after two years

Company News

by Lauren Evans

The Reject Shop’s (ASX:TRS) chief executive officer (CEO) Andre Reich has stepped down from his role after joining the company just over two years ago.

The discount retailer said that over the past two years, Mr Reich has led the company through the ‘fix’ phase of the turnaround strategy while navigating the uncertainty and volatility associated with Covid-19.

Mr Reich has determined, with the ‘fix’ phase of the turnaround strategy complete, that it is now an appropriate time for him to leave the company to pursue other opportunities.

Chief financial officer Clinton Cahn will replace Mr Reich as acting CEO until the company finds a replacement.

Meanwhile, the senior leadership team has further expanded with the appointment of Amy Eshuys as chief operating officer, starting from tomorrow. Amy most recently held the combined role of vice president and general merchandise manager at CTS, based in New Jersey.

The Reject Shop said it continues to trade in line with the expectations set out by management in its first half results.

Shares in Reject Shop (ASX:TRS) are trading 18.9 per cent lower at $4.14. 

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.