The Bookseller.com

22nd August 2008

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Roche leaves Borders

30.01.08 Philip Jones

David Roche has left his position as c.e.o of Borders (UK). Philip Downer is to replace Roche as c.e.o. Downer was formerly managing director of the book shop chain before Roche joined in March 2006. Borders also confirmed Christmas like-for-like sales growth of 2.9%.

Luke Johnson, chairman of Borders (UK), said: "David has made a significant contribution to Borders UK in his time here both in defining a differentiated identity for the Brand and in successfully executing the sale process that kept the Borders name on the High Street, and I wish him well for the future."

Johnson said Downer's contribution in building Borders in the UK and his knowledge of the business were "second to none". He said: "This appointment will ensure the business is equipped to cope with the challenging year ahead."

Borders (UK) said that its like-for-like sales from 2nd December 2007 to 5th January 2008 grew by 2.9% "despite increased competition on the high street".

Johnson added: "As is the way with Christmas, sales came late and trading was very strong in the final week and into the post-Christmas Sale. This is a creditable result for Borders in a tough marketplace and in a flat retail trading environment. The balance sheet of the business remains strong. We have more work to do in 2008 to continue our turnaround of the business and we have initiated a number of projects to see us achieve this, not least the launch of our transactional website this Spring."

Todays Picks Philip Jones Borders David Roche Luke Johnson Philip Downer