Harrods is close to appointing a new managing director, the fourth person to hold the post in less than three years, after Max Rigelman left in April due to "personal reasons and family circumstances." Rigelman's replacement is believed to be Richard Simonin, a member of the board at German designer brand Escada. One other possible candidate is Hamleys chairman Simon Burke, who is departing Hamleys following the Baugur buyout.

Harrods has suffered recently because of its exposure to the tourist trade as well as the other problems in central London, including the arrival of the traffic congestion charge.