Debenhams CEO Bucher Steps Down Following Takeover by Lenders
Pedestrians cross the road outside a Debenhams Plc department store in London, U.K.
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Debenhams Plc Chief Executive Officer Sergio Bucher is stepping down after lenders took control of the troubled retailer earlier this month.
Chairman Terry Duddy will take over in an executive role on an interim basis as the company seeks a successor to Bucher, who plans to leave this week. Debenhams said the moves will allow new leadership to carry through the restructuring and turnaround of the business.