Major leadership changes at Lewis as profits slump

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Cape Town – The chairperson, a board member and the chief financial officer of Lewis Group [JSE:LEW] have announced they are leaving as the retailer announced a 35.6% decline in headline earnings per share for the year ended 31 March 2017.

Lewis announced it would pay a final gross cash dividend of 100 cents per share for the year ended 31 March 2017. Its share price was 1.1% down at the close of business on Tuesday.

Lewis chairperson David Nurek “advised the board that he plans to retire after serving as a director and chairman since the group’s listing on the JSE in 2004,” the group said in a statement on Wednesday.

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