Categories: Money

Quiz founder Tarak Ramzan steps down as fashion firm pushes ahead with turnaround plan

By Daily Mail City & Finance Reporter

Updated: 6:00 PM EDT, March 28, 2024

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Retiring: Tarak Ramzan, who founded Quiz in 1993

Quiz’s founder of the telecom company has stepped down as the fashion company continues with a turnaround plan.

CEO Tarak Ramzan will be replaced by his son Sheraz, the Chief Commercial Officer, as part of a strategic review led by retail veteran and former JD Sports boss Peter Cowgill.

Cowgill, the company’s non-executive chairman, will now take on a “more active role”, the company confirmed.

The turnaround plan includes ‘reconnecting with consumers’ and refreshing the Quiz brand as the company looks to return to profitable growth. It is said that it will reduce costs and eliminate all loss-making areas.

Shares lost 10.5 percent, or 0.62p, to close at 5.35p

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