UK-based company Saga (SAGA.L) announced on Tuesday the departure of Euan Sutherland from his position as the company’s chief executive officer. Mike Hazell, who recently assumed the role of the group’s CFO just a month ago, will succeed Sutherland. Mark Watkins, the current group chief corporate development officer, is set to assume the responsibilities of the CFO position.
Saga noted that Sutherland had communicated earlier in the year his decision to step down from the CEO role. Sutherland, who had joined Saga from fashion retailer Superdry (SDRY.L) in January 2020, had initiated a new strategy within the holiday group and successfully navigated the company through the challenges posed by the pandemic.
Hazell, aged 50, will take on the new position immediately. Sutherland will remain onboard until January 31 to facilitate a smooth transition to new leadership, as confirmed by Saga.
Expressing his readiness for the new role, Hazell stated, “I am delighted to take over from Euan (Sutherland) and will continue to deliver against the group strategy to maximize the performance of our existing businesses and reduce debt.”
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