Debenhams finance boss steps down

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Debenhams finance boss Simon Herrick has resigned just days after the department store chain’s shock profits warning following disappointing Christmas trading.

Mr Herrick has stepped down from his post as chief financial officer with immediate effect, but will not leave the company formally until February 7.

Debenhams warned profits were expected to fall by as much as 26 per cent due to its failure to entice a rush of last-minute Christmas shoppers.