Catherine Lloyd will leave her role as CEO of Rex Trueform, owner of clothing retailer Queenspark, at the end of July after three years in charge.
Lloyd was hired in March 2019 and will remain on the board and as a legal and strategic adviser to the company. Board chair Marcel Golding will take over as CEO and resign from the board.
“The board wishes to thank Catherine Lloyd for her contribution in stepping into the role of CEO and leading the business at an extremely challenging time during and following the Covid-19 pandemic,” the company said in a brief statement on Wednesday.
“The company has been meaningfully repositioned, and its strength as a sustainable long-term business is significantly improved with a solid foundation from which to move forward,” it added.
Queenspark stores primarily sell formal female workwear and evening clothing, which faced weak demand as people worked from home and events and weddings were cancelled for much of 2020.
Rex Trueform, valued at R247m on the JSE, announced in April it had bought the majority stake in newly established property letting enterprise Belper Investments, as it looks to diversify its existing property portfolio and acquire high-demand commercial property.
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