Studio Retail Group PLC Directorate Change (9174R)
03 Julio 2020 - 01:00AM
UK Regulatory
TIDMSTU
RNS Number : 9174R
Studio Retail Group PLC
03 July 2020
03 July 2020
Studio Retail Group plc
("the Company" or "Studio")
CEO Succession
Studio is pleased to announce that Paul Kendrick, currently an
executive director of the Company and Managing Director of its main
subsidiary, Studio Retail Ltd, will take over as CEO of the Company
upon the retirement of the current CEO, Phil Maudsley, at the end
of the financial year, on 26 March 2021.
This is the outcome from a structured development and succession
plan implemented by the Board working with both Mr Maudsley and Mr
Kendrick over the past two years. Mr Maudsley will be fully
involved with the transition during the remainder of this financial
year.
Paul Kendrick joined the Group in May 2016 initially as
Commercial and Deputy Managing Director of Studio Retail Ltd before
being promoted to Managing Director in April 2017. He was appointed
to the Studio Board in December 2019. During his time at Studio,
Paul has played a key role in driving the business forwards and
growing its online value offer.
Prior to joining Studio, Paul was Marketing and Ecommerce
Director at Bonmarche, and held various roles at N Brown Group
including leading Marketing, Financial Services, International and
Group Development functions. Much of Paul's early career was spent
within the travel industry, at both Thomson (now Tui) Travel and
The Co-operative Group.
Phil Maudsley will retire following more than 30 years of
service with the Company, having joined the Group in 1987 as
general manager of a manufacturing subsidiary. Since then he has
held various roles including managing director of the Home Shopping
Division and Managing Director of Express Gifts. He was appointed
to the Studio Board in 2004 before being appointed Group Chief
Executive Officer in April 2017. In this time, Phil has led the
Group in becoming a focused, on-line value retailer of scale.
Ian Burke, Studio Chairman, says
"Phil has contributed significantly to the Company's development
and achievements over thirty years including most recently in his
capacity as CEO. As he approaches his retirement from Studio, I
would like to thank him for that contribution, on behalf of the
board, and to wish him well in whatever he chooses to do next."
Mr Maudsley, Studio CEO, says
"I have thoroughly enjoyed my long career with this group.
Seeing Studio evolve from a small Christmas catalogue operation to
become a thriving on-line value retailer serving over 2 million
customers gives me immense pride. I know that I leave the business
in Paul's very capable hands."
Mr Kendrick, Studio Executive Director and MD of Studio Retail
Ltd, says
" I am truly excited to be given the opportunity to lead Studio
Retail Group as we continue our transformation to a digital, value
retailer. I would like to thank Phil for all his support over the
last 4 years. We have built an amazing team which I am honoured to
work with as we take the business forward. "
Enquiries
Studio Retail Group plc 0161 303 3465
Ian Burke, Chairman
Tulchan Communications 020 7353 4200
Will Smith
Notes to Editors
Studio Retail Group currently contains market leading businesses
in the UK digital retailing and education supplies markets. It is
primarily a retailer and distributor, handling and supplying
specialist products manufactured by third parties.
The Group's activities are currently focused in two main
operating segments:
-- Studio - a leading UK digital value retailer, primarily
trading via the Studio brand; and
-- Education - the second largest listed independent supplier of
resources and equipment (excluding information technology and
publishing) to schools in the UK and overseas. We announced the
sale of this business to YPO in December 2019 for GBP50m, subject
to approval from the Competition & Markets Authority.
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contact rns@lseg.com or visit www.rns.com.
END
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