(Alliance News) - Angling Direct PLC said Monday Chief Executive Officer Darren Bailey will step down with immediate effect after 17 years of leading the business, but will remain as a non-executive director.
Andy Torrance, who joined the company in October 2019 as a non-executive director, has been appointed as the company's new chief executive officer.
The company said Torrance has extensive experience working for brands with a substantial European presence. He previously held chief operating officer roles at Dunelm Group PLC and Holland & Barrett International Ltd and a number of executive roles during a 12-year period at Halfords Group PLC.
Martyn Page, executive chair, said: "Both myself and the entire Angling Direct team are hugely grateful for everything Darren has done to make the business the success it is today."
"We are excited to have Andy Torrance as the company's new CEO given his specialist retail sector and European scaling experience," Page said.
Angling shares were trading 2.1% lower in London at 67.05 pence each on Monday.
By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com
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Angling Direct (ANG)
Dunelm (DNLM)
Halfords (HFD)