TIDMTHG
RNS Number : 6147N
THG PLC
24 January 2023
24 January 2023
THG PLC
Directorate Change
Appointment of Damian Sanders as Chief Financial Officer
John Gallemore appointed Chief Operating Officer
THG PLC ("THG" or the "Group"), today announces that Damian
Sanders has been appointed Chief Financial Officer ("CFO") of THG,
with immediate effect.
Damian takes over as CFO from John Gallemore, who has been
appointed Chief Operating Officer ("COO"). Damian's appointment
follows an extensive search both internationally and
domestically.
Damian has an in -depth understanding of THG's businesses,
people and culture, having been a member of the Board for the past
two years. He joined the Board as an Independent Non-Executive
Director ( " NED " ) on 17 November 2020, following which he was
appointed Audit Committee Chair and Chair of the Divisional
Reorganisation Committee upon its inception on 1 July 2021. The
completion of the separation of THG's key trading divisions, which
simplifies THG's corporate divisional structures and provides it
with material optionality and flexibility, was announced on 26 July
2022. Through his work with and knowledge of THG, the Board
believes Damian is ideally placed to take on the role of CFO.
Damian's appointment will enable John, who has been covering
both the Finance and Operations functions until now, to focus
solely on the role of COO and build on the excellent progress he
has overseen in THG's global fulfilment footprint. John continues
as an Executive Board Director.
Prior to joining THG, Damian was a Senior Audit Partner at
Deloitte for 20 years and a member of Deloitte's North West
Leadership Team, having also held several other senior management
roles. He has vast experience of the retail and technology sectors,
working with entrepreneurs and high growth companies. He also has
extensive experience of working with PLC boards, having acted as an
Audit Partner and advisor to a significant number of FTSE Boards
for well over 20 years, and, more recently, as an Independent NED.
Damian is an FCA member of the Institute of Chartered Accountants
in England & Wales and brings extensive financial and
commercial experience to the Group.
THG has recently appointed two Independent NEDs, with further
appointments expected, and continues to strengthen Corporate
Governance. In the meantime, as a result of Damian's appointment as
CFO, Dean Moore will take on the Audit Committee Chair and Senior
Independent Director ( " SID " ) roles on an interim basis.
Charles Allen, Lord Allen of Kensington CBE, Independent Chair,
commented:
"On behalf of the Board I'd like to thank John for his hard work
and dedication as CFO of THG. Having effectively been undertaking
two jobs to date, we are delighted that he will now be able to
devote a singular focus to driving the operations of the Group
where his experience is invaluable.
"We welcome Damian to the business in an executive capacity. I
have got to know Damian well since my appointment as Chair, and his
financial skill, commercial acumen and governance expertise means
that he will hit the ground running. Damian has significant
experience as a former Senior Audit Partner and that, coupled with
his wide industry and listed company experience, in addition to his
in-depth knowledge of THG's businesses and its people, will prove
hugely beneficial to us as we continue to grow and build further on
our corporate governance standards."
Damian Sanders, Chief Financial Officer, commented :
"I'm delighted to be taking on the role of CFO at THG. I've got
to know the business well in the two years since I joined the Board
and now look forward to working in an executive capacity to help
drive the Group forward as we continue to grow on a global
scale."
Matthew Moulding, Chief Executive Officer, commented:
"Damian has played a key role since joining the Group and Board,
chairing to great effect numerous important projects over the past
two years, not least the recently delivered divisional
reorganisation. Damian's experience and energy will prove
invaluable as we look to deliver the key initiatives planned across
the Group for 2023 and beyond.
"I'm also delighted to appoint John as COO, which follows a
smooth and expansive roll-out of the Group's global distribution
network, alongside his excellent work in leading Ingenuity through
its formative years. John's knowledge of the business is
second-to-none, and the appointment of Damian will allow John to
work closely with me on further evolving the commercial and
operating models of each of our divisions."
John Gallemore, Chief Operating Officer, commented:
"Since Matt and I set up THG 18 years ago, we've enjoyed an
incredible journey and have grown the Group into a truly global
player, delivering record revenues of c. GBP2.25 billion in 2022. I
am pleased to be handing over the Group's incredibly talented
finance team to Damian, allowing me to work more closely with Matt
and the Divisional CEOs in capitalising on the significant
commercial opportunities ahead."
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 is a vertically integrated, digital-first consumer brands
group, retailing its own brands in beauty and nutrition, plus
third-party brands, via its proprietary, end-to-end, e-commerce
technology, infrastructure and brand-building platform (THG
Ingenuity) to an online and global customer base. THG's business is
operated through the following businesses:
THG Beauty : The globally pre-eminent digital-first brand owner,
retailer and manufacturer in the prestige beauty market, combining
its prestige 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 brands (Myvegan, Myvitamins, MP
Activewear and MyPRO), with a vertically-integrated business model,
supported by global THG production facilities.
THG Ingenuity: Ingenuity Commerce provides an end-to-end direct
to consumer e-commerce solution for consumer brand owners under
'Software as a Service' (SaaS) licences. The wider Ingenuity
division provides stand-alone digital services, including hosting,
studio content, translation services and beauty product development
and manufacturing.
THG OnDemand : Personalisation and customisation is a key
offering within THG OnDemand, enabling brands to offer unique
products to a vast range of consumers across THG's global
territories through websites including Zavvi, IWOOT and Pop in a
Box.
Other : Luxury D2C websites including Coggles, AllSole and
MyBag, in addition to THG Experience. The latter comprises prestige
events 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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