Selfridges CFO steps down after just four months

British department store giant Selfridges has lost yet another chief financial officer in the space of four months amid ongoing uncertainty surrounding its future.

According to a filing with the UK’s Companies House, Preetha McCann has stepped down from the luxury retailer, with media reports suggesting that the exit was due to opportunities elsewhere.

McCann confirmed her departure in a statement on LinkedIn, where she said: “I have stepped away from my role as CFO at Selfridges. The brand is a magical one that I have always, and will continue, to love.

“Sending a big shout out and thanks to the amazing people in the finance, merchandising and legal teams who I enjoyed working with.”

McCann had previously joined the company from strategy consultancy EY, after serving as interim CFO for Dover Street Market and finance director for Heathrow.

Her exit comes amid a challenging period for Selfridges, which has found itself in the middle of an ownership battle following the bankruptcy of its co-owner Signa, who snapped up the retailer in a joint venture with Thailand’s Central Group in 2022.

One year on, however, the Austrian firm was forced to file for administration after racking up significant debt, leaving Central to gain control of Selfridges and seemingly set about seeking a new partner.

City sources for the Telegraph last week claimed that Saudi Arabia’s Public Investment Fund (PIF) had been among those mulling a possible acquisition of the 50 percent stake, yet such doubt has brought into question the future of the iconic British landmark.