He said in a statement: "It has been a great privilege to get to know my Debenhams colleagues over the past three years".
Once the UK's biggest department store chain, Debenhams has reported a string of profit warnings as it failed to keep pace with consumers moving online and to cheaper outlets, hammering its shares and wiping 80 percent off its market value.
Chairman Sir Ian Cheshire was also voted off the board and will step down.
The figures for the autumn period make even more worrying reading - with a 5.7 per cent fall in like-for-like sales in the 18 weeks to 5th January.
Debenhams is now on a desperate quest to drive down costs, and central to this is a plan to extend previously announced store closures from 10 to a possible 50 sites over the next three to five years.
Two major shareholders voted against the reappointments: Ashley, the CEO of Sports Direct International Plc, who holds a roughly 29 percent stake; and Landmark Group Inc., a retail and hospitality company based in Dubai, which owns 7 percent.
However, Sir Ian had "concluded it is no longer possible for him to remain chairman of Debenhams", it said.
A total of 56% of shares voted were against the re-election of both directors. Sergio received 44.15% votes in favour of his re-election.
In August a year ago, he rescued House of Fraser after the department store group collapsed into administration.
The board said it is "mindful of its responsibilities to all shareholders" and has full confidence in Bucher and in the management's plan to reshape the business. However, Bucher is to continue in his position, reporting to the board.
"I recognise that individual shareholders have wished to register their dissatisfaction".
The department store group, which is pushing ahead with a major restructuring programme, saw like-for-like sales fall 3.4 per cent in the six weeks to 5 January, weighed down by its core United Kingdom market where sales were 3.6 per cent lower.
Senior Independent Director Terry Duddy will become interim director and replace Sir Cheshire.
Also in December, Debenhams declined the offer of a 40 million pound interest-free loan from Ashley, saying conditions attached to it could affect the interests of other stakeholders.
Earlier Thursday, Debenhams announced it is in talks with lenders over its financing amid weak store footfall over the Christmas period.
Mr Trump has raised the stakes by threatening to declare a national emergency and circumvent Congress and get the money he needs. House Democrats as well as a smattering of Republicans voted this week in favor of bills to reopen portions of the government.
Aphria's report did not acknowledge the recent announcement of a hostile takeover bid by US -based retailer Green Growth Brands. In the three months to November 30, it booked $22-million in net revenue, selling 3,409 kilograms of cannabis.
Santiago Solari's men sit 5th on the La Liga table with 30 points from 18 games, 10 behind leaders and arch rivals Barcelona . But the coach says, "Isco is doing fine, just like all of the players who are training at the moment".
Austin Kendall surprised many in Norman when his name was reportedly spotted in the NCAA transfer portal on Friday afternoon. Kendall graduated last month, meaning he can transfer and play immediately with two seasons of eligibility.
De Kock and Hashim Amla were mainly responsible for South Africa posting a target likely to be beyond Pakistan´s reach. Four overs later Steyn claimed the wicket of Masood after umpire Joel Wilson originally gave him not out.
Second baseman Brian Dozier agreed to a one-year, $9 million deal with the Washington Nationals , according to multiple reports. Even with a disappointing.215 average last season, Dozier still managed to hit 21 home runs and 30 doubles.
Casting for the movie is underway with production on " The Many Saints of Newark " getting started later this year. Her co-star, Michael Imperioli , who played Christopher Moltisanti, agreed, adding, "I don't know what it means".
New Beer Labels On Hold During Government Shutdown
The breweries can still sell new beers in the state, but they are missing out on out-of-state sales until the shutdown ends. Paul Gatza, director of the Brewers Association , estimates half of the craft breweries in the US are in a similar position.
Brit nominations revealed: Anne-Marie and Dua Lipa lead the way
The rapper added: "So, me just existing and being myself is making change and making things easier for other young queer kids". Aphex Twin has been nominated for the British Male Solo Artist award, alongside Craig David, Sam Smith, Giggs and George Ezra.
Mets, deGrom agree to $17 million, 1-year contract
BRAVES: Atlanta agreed to a $5,475,000, one-year deal with Mike Foltynewicz, avoiding arbitration with the All-Star right-hander. Past year he missed time with a finger injury and an illness, finishing with 155 strikeouts and 39 walks in 154 1/3 innings.