Waterstones' retail director McShane departs after 17 years

Waterstones' retail director McShane departs after 17 years

Waterstones’ retail director Rik McShane has left the company after 17 years.

The departure was relayed to staff just after news broke that the retailer had achieved a profit for the first time under the ownership of Russian businessman Alexander Mamut and under the direction of its m.d James Daunt, with sales up 4% to £409.1m in the year to 30th April 2016, helping it achieve a pre-tax profit of £9.9m from a pre-tax loss of £4.5m a year earlier.

Rik McShane had been retail director since 2013, promoted under Daunt from his position as head of books, which he was appointed to in 2012.

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