Rns Out24 Jan 2023 07:03
Directorate Change
Appointment of Damian Sanders as Chief Financial Officer
John Gallemore appointed Chief Operating Officer
THG PLC ("THG" or the "Group"), today announces that Damian Sanders has been appointed Chief Financial Officer ("CFO") of THG, with immediate effect.
Damian takes over as CFO from John Gallemore, who has been appointed Chief Operating Officer ("COO"). Damian's appointment follows an extensive search both internationally and domestically.
Damian has an in-depth understanding of THG's businesses, people and culture, having been a member of the Board for the past two years. He joined the Board as an Independent Non-Executive Director ("NED") on 17 November 2020, following which he was appointed Audit Committee Chair and Chair of the Divisional Reorganisation Committee upon its inception on 1 July 2021. The completion of the separation of THG's key trading divisions, which simplifies THG's corporate divisional structures and provides it with material optionality and flexibility, was announced on 26 July 2022. Through his work with and knowledge of THG, the Board believes Damian is ideally placed to take on the role of CFO.
Damian's appointment will enable John, who has been covering both the Finance and Operations functions until now, to focus solely on the role of COO and build on the excellent progress he has overseen in THG's global fulfilment footprint. John continues as an Executive Board Director.
Prior to joining THG, Damian was a Senior Audit Partner at Deloitte for 20 years and a member of Deloitte's North West Leadership Team, having also held several other senior management roles. He has vast experience of the retail and technology sectors, working with entrepreneurs and high growth companies. He also has extensive experience of working with PLC boards, having acted as an Audit Partner and advisor to a significant number of FTSE Boards for well over 20 years, and, more recently, as an Independent NED. Damian is an FCA member of the Institute of Chartered Accountants in England & Wales and brings extensive financial and commercial experience to the Group.
THG has recently appointed two Independent NEDs, with further appointments expected, and continues to strengthen Corporate Governance. In the meantime, as a result of Damian's appointment as CFO, Dean Moore will take on the Audit Committee Chair and Senior Independent Director ("SID") roles on an interim basis.
Charles Allen, Lord Allen of Kensington CBE, Independent Chair, commented:
"On behalf of the Board I'd like to thank John for his hard work and dedication as CFO of THG. Having effectively been undertaking two jobs to date, we are delighted that he will now be able to devote a singular focus to driving the operations of the Group where his experience is invaluable.
"We welcome Damian to the business in an executive capacity. I have got to know Damian well since my appointment
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