Busby Holdings, the parent company of brands like Aldo, Guess and Gap, has farewelled managing director Simon Nankervis while welcoming Andrew Bousie to his newly created position as CEO.

Nankervis who co-founded Busbrand in 2002, a subsidiary of Busby Holdings, will be relocating overseas. While Nankervis steps away from his current role he will still remain a non-executive director of the group.

“It’s been a bittersweet decision to step away from my role as Managing Director of a company I co-founded. I have a keen interest in the business, which is why it’s important to me that I remain a director,” Nankervis said.

“I feel very comfortable leaving the business in Andrew’s capable hand and look forward to helping the company continue to flourish.”

Bousie will commence his role on 1 November and has had a long standing career as genera manager of both Esprit and the Colorado Group.