Business
Retirement and succession of CEO
Retirement and succession of CEO.
About this update from Card Factory Plc
[{"type":"text","content":"\n \nRNS Number : 9357K Card Factory PLC 06 January 2016 \n\n \n6 January 2016\n \nCard Factory plc (\"Card Factory\" or the \"Group\")\n \nRetirement and succession of Chief Executive Officer (\"CEO\")\n \nKaren Hubbard to succeed Richard Hayes as CEO\n \nCard Factory plc, the UK's leading specialist retailer of greeting cards, dressings and gifts, is pleased to announce the appointment of Karen Hubbard to the Board as CEO Designate, with effect from 22nd February 2016.\n \nSince 2014 Karen has served as Chief Operating Officer of B&M European Value Retail S.A. (\"B&M\"), the fast growing multi-price value retailer, where she has been accountable for retail operations, distribution & logistics, supply chain, IT, HR, marketing and store development.\n \nFrom 2009 to 2014, she held a number of senior roles at ASDA, latterly Executive Director Property, Format Development & Multi-Channel. She previously spent 14 years in BP's retail operations, initially in her native Australia before moving to the UK in 2008 where she became UK Convenience Retail Director, responsible for BP's own retail estate across all formats including Connect/Simply Food, Motorway, Express and the franchise channel.\n \nKaren will succeed Richard Hayes as CEO of Card Factory in mid-April. Richard has been with the Group since 2003, serving as Managing Director and CEO since 2008. He recently made the Board aware of his wish to step down once a suitable successor had been identified. He will retire from the Board and leave the Group at the end of June 2016, having ensured a smooth handover over a four-month period.\n \nThe Board confirms that trading over the Christmas period has been in line with its expectations. A more detailed trading update will be provided, as previously advised, on Tuesday 26th January 2016 ahead of the Group's financial year end.\n \nGeoff Cooper, Chairman Card Factory, said:\n \n\"Richard has led Card Factory with enormous success. Since he joined the senior management team in 2003 the Group has grown from a 40-store discount chain to a vertically integrated high margin value retailer with over 800 stores and two transactional websites. Having led the business through an MBO, the 2014 IPO and its first two years as a...