15 Mar 2024 07:00
15 March 2024
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THG PLC
Directorate Change
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The Board of THG PLC ("THG" or the "Company") today announces that Iain McDonald has informed the Board of his intention to step down as a Non-Executive Director at the end of March 2024, shortly after his fourteenth anniversary as a THG Director.
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Iain is both a highly-valued and experienced member of THG's Board, who has overseen the Group's growth and evolution into a global leader in three major categories - Beauty, Nutrition and Technology.
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Following Iain's departure, the Board will be comprised of three Executive Directors and six Non-Executive Directors, five of whom (including the Chair) are deemed to be independent.
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Charles Allen, Lord Allen of Kensington CBE, Independent Chair, commented:
"On behalf of the Board, I would like to thank Iain for the significant contribution he has made to the Company over many years, and particularly his support in strengthening the Board, welcoming new Non-Executive Directors and developing THG's strategy. We wish him continued success with his various ventures."
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Matthew Moulding, Chief Executive Officer, commented:
"Iain has made a remarkable impact on THG during his time on the Board. There's no doubt whatsoever that THG would not be in such a strong position as it is today had Iain not joined us 14 years ago. Under his guidance, THG has grown revenues and adjusted EBITDA 20-fold and 50-fold respectively, while migrating away from retailing CDs/DVDs and evolving into a global leader in Beauty, Nutrition and Technology.
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"Iain's experience across technology, digital services and marketing is second to none, resulting in him chairing various committees during his time on the Board, most recently leading THG's Sustainability strategy. As a material long-term investor in THG, we look forward to continuing to work closely with Iain in the future."
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Iain McDonald, Non-Executive Director, commented:
"As the THG board evolves to a more conventional PLC structure, the time is right for me to step away from my current role. I intend to remain very close to THG and a committed long term investor. I could not be more proud to have played even a small role in the incredible business which Matt and his team have built and to have been so welcomed as a member of the THG family. Looking forward it is pleasing to step away at a time when the business itself couldn't be in better shape. The scale of the capability in THG is something which few appreciate."
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For further information please contact:
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Investor enquiries - THG PLC | |
Greg Feehely, SVP Investor Relations Kate Grimoldby, Director of Investor Relations and Strategic Projects | Investor.Relations@thg.com |
 Media enquiries: | |
Powerscourt - Financial PR adviser | Tel: +44 (0) 20 7250 1446 |
Victoria Palmer-Moore/Nick Dibden/Russ Lynch | thg@powerscourt-group.com |
 THG PLC Viki Tahmasebi   |   Viki.tahmasebi@thg.com |
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