Peter Fabricius is appointed CEO of Magasin du Nord

What: Peter Fabricius, formerly CFO of Magasin du Nord, is appointed CEO.

Why it is important: The new owners of Magasin du Nord did not come with the idea to challenge what had been built so far by the existing team, and the appointment of Mr Fabricius show the trust placed in the existing strategy.

Following the purchase of IADS member Magasin du Nord by Peek & Cloppenburg, “changes in the continuity” are taking place at the top management. Peter King leaves the CEO seat to Peter Fabricius, who joined Magasin du Nord in 2005 and was appointed CFO in 2009. Mr King remains in an advisory position to Magasin du Nord.