Postie Plus appoints No 1 Shoes executive Binns as new CEO

Postie Plus Group, the beleaguered clothing retailer, has appointed No 1 Shoes executive Richard Binns as its new chief executive.

Binns will join the retailer on Sept. 16, replacing long-serving Ron Boskell who departed in January. He was previously general manager operations at Hellaby Holdings-owned No 1 Shoes, chief operating officer at Overland, and head of general merchandise at Warehouse Group.

The British ex-pat came to New Zealand in 2007 after holding several retail roles in the UK.

Shares in Postie Plus were unchanged at 15.5 cents, having plunged 35 percent this year.

The retailer has been dealing with problems at its outsourced distribution centre, burning through cash and breaching its banking covenants in the process.

Last year Postie Plus outsourced its distribution systems and processes to a purpose-built centre in Mangere as part of its shift to Auckland, where it saw greater opportunities.

BusinessDesk.co.nz

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