15
March 2024
THG PLC
Directorate
Change
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.
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.
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.
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."
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.
"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."
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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