Last checked at 17 Oct 2008 07:00
| For Immediate Release | 17 October 2008 |
Ideal Shopping Direct Plc
("Ideal" or "the Company")
Appointment of new CEO
Ideal Shopping Direct is pleased to announce the appointment of Michael Hancox as Chief Executive with effect from 3 November 2008.
Michael was Chief Executive of Otto UK, the world's largest home shopping retailer, where he was responsible for operations in the UK, Ireland and Spain. He held this position from December 2005 until 31 August 2008 and during this time led a significant turnaround in the business's profitability. Prior to this, he was Chief Operating Officer of Littlewoods Shop Direct Group following the merger of the Littlewoods and Shop Direct businesses. Michael has also held other senior positions including Chief Executive of Shop Direct and Finance Director at ARG Equation, a division of GUS plc.
Michael, aged 42, is a non executive director of Manchester Airport Group plc and a Fellow of Chartered Institute of Management Accountants.
Commenting on the appointment, David Williams, Chairman said:
"I am delighted to announce Mike's appointment as Chief Executive of Ideal and very much look forward to welcoming him to the Board. His extensive experience particularly of home shopping, internet retailing and supply chain management will be invaluable to the Company's development going forward."
Michael Hancox added:
"I am looking forward to joining Ideal. Multi channel retailing is an exciting area and I expect Ideal Shopping Direct to play a significant role in the development of the home shopping market in the future. I believe that the combination of my previous experience, the skills already in place at Ideal and the market opportunity will enable the Company to make significant progress and create real shareholder value."
The companies of which Michael Hancox has been a director in the past five years are as follows:
Manchester Airport Group plc *
Otto Versand (UK) Limited
Grattan plc
Freemans plc
Texplant Corporation Limited
Parcelnet Limited
Abound Limited
Bevere Collection Limited
Card Handling Limited
Catalogue Bargain Shop Limited
Choice Mail Order Limited
Innovations Limited
Innovations Group Limited
JCM Media Limited
Kay and Company Limited
Lewis U.K. Limited
Mail Order Publication Limited
Marshall Ward Limited
McCord Limited
Reality Ventures Limited
Shop Direct Trustees Limited
The Royal Welsh Warehouse Limited
* Current Directorships
No further disclosures are required to be made in relation to Michael Hancox under schedule 2 (g) of the AIM rules.
For further information please contact:
| David Williams, Chairman | |
| Ideal Shopping Direct | 08700 780704 |
| Richard Darby, Miranda Higham | |
| Buchanan Communications | 020 7466 5000 |
| Michael Meade, Oliver Cardigan (Nominated Advisers) | |
| Numis Securities | 0207 260 1000 |
Notes to editors:
Ideal Shopping Direct is one of the UK's leading TV home shopping retailers. It operates three TV channels ('Ideal World', 'Ideal World 2' and 'Create and Craft') which are broadcast on Sky, with 'Ideal World', its core channel, also broadcast on Virgin and the rapidly expanding Freeview platform.
'Ideal World' offers a broad selection of general merchandise with six product categories, led by Fashion, Leisure and Craft along with Home, Health & Beauty and Jewellery. 'Ideal World 2' repeats selected shows of Ideal World and 'Create and Craft' is a niche channel selling health and beauty and craft products respectively.
Ideal acquired Superstore TV, a sourcing and wholesale business supplying products to Asda, Wilkinson and Dunelm as well as Ideal.