Debenhams CEO steps down after shareholder pressure

Debenhams’ Chief Executive Officer has announced that he is leaving the company. 

High-profile shareholders, including Cenkos, Milestone Resources, Schroders and Old Mutual, have pressured Sharp to leave, Business Insider reports.

Michael Sharp was appointed to lead the department store chain in 2011. Now the CEO reveals that he is planning to step down in 2016.

While Sharp says that it was always his intention to only serve for a five-year period, other suggests that he is folding to pressure from investors.