Wednesday 29th April, 2015

Leading department store, House of Fraser is losing another member of its senior management team. Mark Gifford is due to leave the company in September after eight years in the role of Chief financial officer, and serving 13 years in total at the company.

Colin Elliot has been appointed as the new CFO, a chartered accountant with over 25 years' experience who has most recently worked as group finance director at De Vere Hotel Group. Elliot will join House of Fraser on 1st May and will initially work alongside Gifford.

Elliot will join the board and report into Nigel Oddy, who became chief executive in February, when John King stepped down after eight years at the helm of the business.

Gifford said: "I have thoroughly enjoyed my time as CFO for House of Fraser. I have had the honour of working with a very talented team of people and I have every confidence that House of Fraser will continue its successes in the years to come."

In September last year, Don McCarthy retired as Chairman after House of Fraser was sold to Chinese conglomerate Nanjing Xinjiekou.