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Group CEO at Phase Eight owner to retire

The South African retailer and owner of Phase Eight, Whistles and Hobbs, The Foschini Group, has announced its group CEO Doug Murray will retire on 2 September.

Murray has been with TFG for 33 years and spent the last 11 as group CEO. Anthony Thunström, currently group chief financial officer, will take over from Murray in September.

During his tenure Murray has grown TFG’s turnover from R7.2bn (£437m) to R23.5bn (£1.4bn), has increased the number of stores from 1,333 in three countries to 3,900 in 32 countries, and has doubled the number of brands from 14 in 2007 to 28 in 2018.

TFG bought Phase Eight in 2015, Whistles in 2016 and Hobbs in 2017.

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