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| Superdry owner Supergroup's co-founder resigns | Superdry owner Supergroup's co-founder resigns |
| (8 days later) | |
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| Theo Karpathios, co-founder of Supergroup, has resigned from its board and left the group immediately. | Theo Karpathios, co-founder of Supergroup, has resigned from its board and left the group immediately. |
| The Cheltenham-based group is the owner of the Superdry clothing brand. Mr Karpathios, who owns 15% of Supergroup, said he would "take on new challenges". | The Cheltenham-based group is the owner of the Superdry clothing brand. Mr Karpathios, who owns 15% of Supergroup, said he would "take on new challenges". |
| His resignation came a month after the group announced a 15% fall in annual profits, blaming poor accounting and management controls. | His resignation came a month after the group announced a 15% fall in annual profits, blaming poor accounting and management controls. |
| He was chief executive of the wholesale and international division. | He was chief executive of the wholesale and international division. |
| In the past year, the company has issued a string of profit warnings and suffered from stock shortages. | In the past year, the company has issued a string of profit warnings and suffered from stock shortages. |
| In April, Supergroup's shares fell 37% in a day after it issued its fourth profit warning in a year, which it blamed on a mathematical error in its accounting. | In April, Supergroup's shares fell 37% in a day after it issued its fourth profit warning in a year, which it blamed on a mathematical error in its accounting. |
| "Theo, as one of the founders of Supergroup, can take significant credit for building the company into the international brand it is today," said the company's chairman, Peter Bamford. | "Theo, as one of the founders of Supergroup, can take significant credit for building the company into the international brand it is today," said the company's chairman, Peter Bamford. |
| Supergroup shares fell 2.6% in London. | Supergroup shares fell 2.6% in London. |