REG - THG PLC - Directorate Change

THGAnnouncement

15/03/2024 07:00

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RNS Number : 9570G  THG PLC  15 March 2024

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."

 

 

 

For further information please contact:

 

 Investor enquiries - THG PLC
 Greg Feehely, SVP Investor Relations                                    Investor.Relations@thg.com (mailto:Investor.Relations@thg.com)

 Kate Grimoldby, Director of Investor Relations and Strategic Projects

 Media enquiries:
 Powerscourt - Financial PR adviser                                      Tel: +44 (0) 20 7250 1446
 Victoria Palmer-Moore/Nick Dibden/Russ Lynch                            thg@powerscourt-group.com (mailto:thg@powerscourt-group.com)

 THG PLC

 Viki Tahmasebi                                                          Viki.tahmasebi@thg.com (mailto:Viki.tahmasebi@thg.com)

 

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