The clothing chain said product director
The departure is the second high-profile one at Next within the past few weeks.
Last month finance director
The loss of
Angelides will become a president in charge of both the Abercrombie & Fitch brand and the group's kids' spin off. He will report to chief executive
While he will step down from the Next board immediately he will remain working within the business until he leaves and his replacement will not initially have a board position.
Wolfson said: 'Christos has made a huge contribution to the group in his 28 years of service and the board wish him success in his future endeavours.'
However, a source close to the company added: 'It's not true to suggest everything is going to collapse because he is going.
Angelides is one of a number of leading British-based retail executive snapped up by American chains. In
Apple had previously gone shopping in the
However that marriage did not last, with Browett returning home after just six months.
Angelides, 51, has spent his entire career at Next and at A&F will have overall responsibility for all aspects of the business which affect the customer.
He will also be accountable for the financial performance of the
Jeffries said: 'Christos brings 28 years of experience, and his experience with all aspects of running a business made him the perfect candidate for this newly created role. His appointment is a critical step in our long-term strategy of being organised to win and we are excited to welcome him to the Abercrombie team.'
Investors will be keen to see enough management talent remains at Next to deliver strong performance. In May Next raised annual profit guidance for the second time after booming first-quarter sales driven by a 8.8pc rise at
Leather goods retailer Mulberry has beefed up its board ahead of what is expected to be a disappointing full year update on Thursday.
The firm has been struggling to turn itself around after former chief executive
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