Joules Group PLC - Leicestershire, England-based country lifestyle retailer - Appoints Jonathon Brown as its new chief executive officer, effective from September 30. It comes after Nick Jones said in May that he would be stepping down after Joules reported a disappointing trading performance, which caused shares to sink 25% in one day alone.
Says Brown will initially join the company as CEO designate on September 7 and then take up the role on September 30. Most recently, he was the CEO of Compare the Market, part of the BGL group, and has also held positions at retailers such as Kingfisher PLC and John Lewis.
Brown says: "Whilst there have been some headwinds in the past year, I am very excited by the business' future opportunities. The group is making strong progress against its clear plans to improve profitability by simplifying the business and optimising the cost base."
Current stock price: 42.70, up 1.7% in London on Monday
12-month change: down 84%
By Xindi Wei; xindiwei@alliancenews.com
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