21 May 2014 07:00
Carpetright plc
("Carpetright" or "the Company")
Management Succession Plan & Board Changes
Carpetright, Europe's leading specialist carpet and floor coverings retailer, announces that it has appointed Wilf Walsh to the Board as Chief Executive with effect from 21 July 2014. Mr Walsh's career includes 20 years of retail/consumer experience including eight years as managing director of Coral and six years at HMV. Most recently he has been chairman of Fortuna Entertainment Group NV, a listed betting and gaming group operating in Central Europe.
Lord Harris of Peckham, currently Executive Chairman, will become non-executive Chairman of Carpetright from 21 July 2014 and will then retire from the Board at the conclusion of Company's Annual General Meeting on 4 September 2014. Lord Harris will remain available to Wilf Walsh in an advisory capacity thereafter, following his retirement from the Board.
A search for a new Chairman will now commence. If this search has not been concluded by the time of the AGM, Baroness Noakes, currently Deputy Chairman of Carpetright, will become Interim Chairman until such time as a permanent appointment is made.
Lord Harris said: "I will be 72 this year and shareholders will be aware that I have been planning a managed hand-over of my responsibilities for some time. I am delighted that Wilf Walsh has agreed to join Carpetright as Chief Executive. He has strong retail and online credentials and a successful track record in managing multi-site consumer-facing businesses. I am confident that I will be leaving the business in safe hands."
Wilf Walsh said: "Carpetright is a great brand and I am looking forward to working with the team to drive profitability and share going forward. Lord Harris has 56 years in the carpet business and will be a hard act to follow but the market-leading position he has built for the business is an excellent place from which to start."
The following management changes are also being announced today:
· Martin Harris, who joined Carpetright in 1991 and has been on the Board since 1997, latterly as its Group Development Director, has informed the Board that he will step down from his post and the Board at the conclusion of the AGM on 4 September 2014 and will leave the Company to pursue other business opportunities.
· Graham Harris, who was appointed to the Board in October 2013 as its Chief Operating Officer, has left the Company with immediate effect as this role has become redundant given the appointment of the new Chief Executive.
Wilf Walsh is currently a director of Fortuna Entertainment Group NV and will be retiring from this post at the AGM on 6 June 2014. Other than this directorship no other information is required to be disclosed pursuant to paragraph LR 9.6.13 of the Listing Rules of the Financial Conduct Authority in relation to his appointment of as a Director of Carpetright.
For further enquiries please contact:
Carpetright plc | Tel: 01708 802000 |
Lord Harris, Executive Chairman Baroness Noakes, Deputy Chairman | |
Neil Page, Group Finance Director | |
Citigate Dewe Rogerson | Tel: 020 7638 9571 |
Kevin Smith / Lindsay Noton |
A copy of this announcement is available on our website www.carpetright.plc.uk.
Notes to Editors
Wilf Walsh - Career Biography
2009 - Present Fortuna Entertainment Group NV
2012 - Present Chairman
2011 - 2012 Vice Chairman and Interim CEO
2009 - 2012 Vice Chairman and Head of Strategy
2000 - Present Gala Coral Group
2010 - Present Non-Executive Director
2000 - 2008 Managing Director, Coral
1994 - 2000 HMV Media Group
Managing Director, HMV Germany
Operations Director, HMV UK and Ireland
Personnel Director, HMV UK and Ireland
1991 - 1994 Pepsi Cola International
1986 - 1991 Scholl Consumer Products