V&D turns profit for first time in years

26 January 2007

Department store chain V&D will close the current fiscal year with a gross profit. CEO Dirk Goeminne voiced this prediction in an interview with Het Financieele Dagblad. The chain has ended the last several years with a loss.

Goeminne is taking the occasion of the improvement to resign as chairman of the board at V&D and board member at parent company Maxeda, formerly Vendex KBB.

His departure is a ‘personal choice.’ The Fleming wants a change after almost 10 years at the company.

Goeminne will be succeeded as CEO of V&D by Mark McKeon, who is responsible for the retail apparel brands Principles and Warehouse. In the past McKeon also held positions at Starbucks and Marks & Spencer.

Subject: Dutch news