Thg Regulatory News (THG)

22 March 2022

THG PLC

Appointment of independent Non-Executive Chair

Charles Allen, Lord Allen of Kensington CBE, to chair THG PLC and work with CEO Matthew Moulding to drive growth and long-term value creation

THG PLC ("THG" or the "Group"), the global proprietary technology platform specialising in taking brands direct to consumers ("D2C"), is pleased to announce that Charles Allen, Lord Allen of Kensington CBE, is joining THG as independent Non-Executive Chair with immediate effect. Charles's appointment follows an international search initiated in October 2021 when THG committed to splitting the dual roles of Executive Chair and Chief Executive Officer held by its founder Matthew Moulding, who will continue as Chief Executive Officer.

Charles has a clear mandate to refresh THG's Board and further strengthen governance and diversity. In addition to reviewing the independent Board, Charles will be working with Matthew in developing the management team, as well as refining the Group's strategy.

Charles is a highly experienced Chair with industry expertise across retail, media, technology, gaming, food production and manufacturing. He is currently Chair of Balfour Beatty plc, the Premium Listed FTSE 250 infrastructure group, and privately-owned Global Media and Entertainment. Previous positions include Chair of ISS AS, 2 Sisters Food Group and Executive Chair of EMI Music. Charles was Chief Executive Officer of ITV plc from its formation in 2004 until 2007, Chief Executive Officer of Granada Group plc and Chief Advisor to the British Home Office.

Matthew Moulding, Chief Executive Officer, commented: "I am delighted that we have been able to attract someone of Charles's calibre and reputation. He has extensive boardroom experience across a range of sectors spanning 40 years. Charles has chaired large, successful, dynamic companies and has experience working with entrepreneurs. Charles's consumer, retail, digital and media expertise, knowledge and skills will help THG to continue to drive profitable and sustainable growth, deliver for all our stakeholders and to meet the highest standards of corporate governance. Furthermore, on a personal note, his appointment will enable me to focus my attention on delivering the Group's plans for growth."

Charles Allen, Chair, commented: "It is a privilege to be joining THG as the Board's chair with a clear mandate to improve governance and transparency, strengthen the Board by improving its independence and diversity, review and develop the strategy and support management as it seeks to further strengthen its talented leadership team. This is a fast-paced, extremely exciting business which has grown rapidly and has many opportunities for significant future growth. Over several weeks I have had the opportunity to meet the Board and senior team, see the operation and understand the finances and business plans. The Group has announced a number of strategic options for 2022 and beyond, I look forward to working with Matthew and the team to review these and I will update on progress over the next six months as the plans take shape.

"Matthew is now able to focus full-time on the business which, combined with a very strong management team and passionate committed colleagues throughout the business, ensures THG is well placed to deliver for all its stakeholders."

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ENDS

Notes to editors

THG (www.thg.com) is a vertically integrated, global, digital-first consumer brands group, retailing its own beauty and nutrition brands, plus leading third-party brands, via its proprietary, end-to-end, e-commerce technology, infrastructure and brand-building platform (THG Ingenuity). THG's business is operated through the following businesses:

THG Ingenuity: Ingenuity Commerce provides end-to-end technology services charged to third party clients for digital commerce solutions. Ingenuity Infrastructure underpins the Ingenuity Commerce offering, and is charged to third parties as a single stand-alone service. Services include hosting, content creation through THG Studios, translation services and beauty product development and manufacturing.

THG Beauty: The globally pre-eminent digital-first brand owner, retailer and manufacturer in the prestige beauty market, combining its portfolio of eight owned brands across skincare, haircare and cosmetics, the provision of a global route to market for over 1,300 third-party beauty brands through its portfolio of websites, including Lookfantastic, Dermstore, Cult Beauty and Mankind and the beauty subscription box brand GLOSSYBOX.

THG Nutrition: A group of digital-first Nutrition brands, which includes the world's largest online sports nutrition brand Myprotein, and its family of brands (Myvegan, Myvitamins, MP Clothing and Myprotein Pro), with a vertically integrated business model, supported by six THG production facilities.

THG OnDemand: Personalisation and customisation services to major brands and global publishing houses, typically under licensing agreements, enabling brands to offer unique products to consumers through websites including Zavvi, IWOOT and Pop in a Box.

Other: Luxury D2C websites including Coggles, AllSole and MyBag, as well as THG Experience, which comprises prestige locations at Hale Country Club & Spa, King Street Townhouse Hotel and Great John Street Hotel, providing deeply experiential brand building environments, most notably in support of THG Society, the Group's proprietary influencer marketing platform.