THG names corporate heavyweight as its non-exec Chair
THG has responded to criticism of its founder Matthew Moulding holding both its CEO and Chairman roles and has named a new non-executive Chair.
Charles Allen — or Lord Allen of Kensington CBE — has joined with immediate effect after what the company said was an international search that began last October when THG committed to splitting the two roles.
Allen now “has a clear mandate to refresh THG's board and further strengthen governance and diversity”. In addition to reviewing the independent board, he will be working with Moulding in “developing the management team, as well as refining the group's strategy”.
So what does the new Chair bring to the company? Well, he’s certainly had experience in leadership positions. He’s currently Chair of listed infrastructure group Balfour Beatty and privately-owned Global Media and Entertainment. Previous positions include Chair of ISS AS, 2 Sisters Food Group and Executive Chair of EMI Music. He was also CEO of ITV from its formation in 2004 until 2007, plus CEO of Granada Group and Chief Advisor to the British Home Office.
That’s an undeniably impressive CV and Moulding said he’s “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”.
Importantly, he also added that the appointment will “enable me to focus my attention on delivering the group's plans for growth”.
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