Struggling omnichannel fashion brand Quiz is to lose its Chief Financial Officer. After more than eight years with the group, Gerard (Gerry) Sweeney is to step down as CFO and company secretary.

However, there’s no rush to the exit as Sweeney plans to depart at the end of March next year “to enable a smooth transition of responsibilities to his successor”. 

Quiz said the recruitment process to find a successor has begun with the company sharing updates in due course.

Thanking Sweeney for his “commitment and valued input”, CEO Sheraz Ramzan said: “Gerry will continue in his role over the coming months while we search for a successor. We wish him the very best in his future endeavours.”

Sweeney added: “After more than eight years in the role, I felt that now is the right time to step back and consider new opportunities. I firmly believe in Quiz’s turnaround potential under Sheraz’s leadership, and that the business will return to profitable growth.

In August, Quiz revealed the problems the retailer was encountering and that a turnaround plan was in place.

In the full year to March, revenue fell 10.6% to £82 million, gross profit dipped 9.7% at £51 million, loss before tax was £5.2 million before a £1.5 million non-recurring impairment charge, and EBITDA fell to £0.9 million from £6.2 million.