Selfridges CEO Andrew Keith is departing this autumn after nearly four years of service.
Newly appointed Selfridges Group CEO André Maeder, who joined the business in May, will take over his responsibilities in the UK.
Keith first joined the luxury department store as MD in February 2021, before being promoted to CEO last year.
He led the business through one of its toughest retail periods, the Covid-19 lockdowns, as well as the £4bn sale of Selfridges to Central Group and Signa Group consortium in 2021.
“From my first day, I have sought to build on [Selfridges] amazing reputation as a creative, inspiring destination where everyone is welcome,” said Keith in an internal memo, reported by WWD.
“However, I feel that now is an appropriate time to leave the business and pursue new ventures.”
Keith’s departure comes at a turbulent time for Selfridges.
The department store’s ownership has been uncertain since co-owner Signa filed for insolvency in November.
Central Group then became the majority owner after converting a loan from one of Selfridges Group’s subsidiaries into equity.
Signa has handed itself over to restructuring experts and plans to sell its minority stake in Selfridges.
Saudi Arabia’s Public Investment Fund has since made an offer, which would increase its stake in the luxury department store from 10% to 50%.
Selfridges has four UK department stores, while the group also includes De Bijenkorf in the Netherlands and Brown Thomas Arnotts in Ireland.
It has recently reopened the Beauty Hall at its London flagship after a multi-million pound renovation.
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