Truworths appoints new group joint deputy CEOs

Fashion retailer Truworths has announced the appointment of Sarah Proudfoot and Emanuel (Mannie) Cristaudo as the group’s new joint deputy CEOs, effective from 1 October 2022. 

Proudfoot and Cristaudo’s appointment according to the JSE-listed retailer forms part of the group’s succession plan, which will eventually see current Group CEO Michael Mark’s exit from the role.

Two years ago, Mark informed the Truworths board of his plans to step down from his role as CEO officially at the group’s November 2022 annual general meeting, afterwhich he was meant to assume a consulting role with the company. 

However the retailer says it has requested Mark to remain in the position beyond November to allow the board to find an adequate successor. 

“The ultimate timing of the formal appointment of the CEO to succeed Michael Mark is yet to be decided by the board,” the group said in a statement.

Proudfoot has been with the company since 2001, having assumed various senior positions such as that of executive director and in 2021 the deputy managing director of Truworths.

“Sarah contributes materially to a number of significant strategic issues within the group and plays a key role in the merchandise function in the Office business in the UK as well as the Truworths corporate social investment programme.”

Cristaudo on the other hand has experience in the credit, personal loans and debt management industry. In 2021, he was appointed CFO, and earlier this year he was appointed as COO. 

“The appointments of Sarah and Mannie as the group’s joint deputy CEOs confirm the board’s firm belief in their competence and leadership, and that of the directors and divisional directors who report to them,” Truworths added. 

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