The Board of Best & Less Group Holdings Limited (BLG or the Company) and BBRC Admin 1 Pty Ltd. announced that BLG Executive Chair, Ray Itaoui, will assume the responsibilities of CEO on a full-time basis. Consequently, the Company and Erica Berchtold have agreed not to proceed with her appointment as Group Chief Executive Officer of BLG, which had been proposed to be effective from 4 September 2023. Mr. Itaoui has considerable retail experience, having operated successful Australian and global retail businesses for more than two decades, including iconic brands such Sanity, Bras N Things and Honey Birdette.