William Baird chief quits by 'mutual agreement'

William Baird, the troubled textile group, surprised the City yesterday by announcing that its chief executive, David Suddens, would step down with immediate effect.

Mr Suddens, 54, has had a rough ride during his five-year tenure at Baird, where he led the unsuccessful attempt to sue Marks & Spencer for the termination of its clothing supply contract.

He also faced a vote to oust him from the board at the company's annual general meeting in May. At that time Mr Suddens was backed overwhelmingly by shareholders and by the rest of his board.

Yesterday, the company claimed his departure was by mutual agreement. However, Sir David Cooksey, the chairman of Baird, made clear the board no longer thought Mr Suddens was the best person to lead the company.

Sir David said: "The group has changed very considerably since David joined. It was a matter of who was the most appropriate person for the job."

Ruth Henderson, currently in charge of women's wear, will take over as chief executive. The company said this was in line with the restructuring of the group to focus on this division, which accounts for 75 per cent of its profits.

Mr Suddens is still negotiating his severance package, which is understood to include a proportion of his one-year contract's salary and some pension contributions. Last year he was paid £275,000.

Mr Suddens does not have another job lined up. He joined Baird as part of a long career in the retail sector, including Courtaulds in the UK and the Franco-German retail giant Dollfus Mieg et Cie.