Matalan has announced that Stephen Hill will step down as chief financial officer after 23 years at the retailer.

Dave Williams will take over from Hill, joining from Poundland where he was finance director for five years.

Williams has more than 20 years' experience in retail, having also worked as commercial director for JD Sports, and as CFO across a number of retailers, including JJB Sports and TJ Hughes.

“Stephen has been instrumental in helping shape Matalan over a long period, bringing significant investment into the business in supporting its ongoing development including the modernisation of our supply chain, developing our omnichannel capabilities, and opening lots of fantastic new stores," said Matalan chief executive Jo Whitfield. "His extensive financial, commercial and leadership qualities have proved invaluable and helped steer Matalan to a solid financial footing."

Williams joins the business this week, initially as CFO designate. He will later step in as permenant CFO after a short handover.

Hill will continue working with the company as advisor to the board for the next few months.

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