January 10, 2019 / 5:09 PM / 3 months ago

Debenhams CEO loses re-election to board, to continue in role

FILE PHOTO: The Chief Executive of Debenhams, Sergio Bucher, poses for a photograph inside the company's new store in Watford, Britain, September 24, 2018. REUTERS/Peter Nicholls

(Reuters) - British department store Debenhams Plc (DEB.L) said on Thursday Chief Executive Sergio Bucher was not re-elected to the board after two major shareholders voted against him at the general meeting.

The board and Bucher agreed that he should continue as CEO and report to the board, Debenhams said here, adding that Chairman Ian Cheshire has decided to step down from his role.

Reporting by Sangameswaran S in Bengaluru; Editing by Shailesh Kuber

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