TIDMTHG
RNS Number : 5247F
THG PLC
22 March 2022
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."
For further information please contact:
Investor enquiries:
Kate Grimoldby, Head of Investor Relations Investor.Relations@thg.com
Media enquiries:
Powerscourt - Financial PR adviser Tel: +44 (0) 20 7250
1446
Victoria Palmer-Moore/Nick Dibden/Nick thg@powerscourt-group.com
Hayns
THG PLC
Viki Tahmasebi Viki.tahmasebi@thg.com
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. S ervices include hosting, content
creation through THG Studios, translation services and beauty
product development and manufacturing.
THG Beauty : The global ly 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.
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