Independent director John Coombe has been promoted to the position of Chairman at Home Retail Group (HRG), it has been announced today.
The owner of Argos & Homebase has chosen Coombe to succeed Oliver Stocken who is retiring and will leave the business officially on July 4th 2012.
Coombe has extensive background within the insurance industry having held a number of senior communications roles at a number of companies, and is currently HRG‘s Senior Independent Director and the Chairman of its Audit Committee.
Commenting on his decision to step down, Oliver Stocken said: “After 12 years of working with the Argos and Homebase businesses as chairman of Home Retail Group and, prior to the demerger in 2006, as a non-executive director of GUS plc, I have chosen to retire from the board.
“It has been a privilege to be associated with these businesses and the great people that work in them.”
As a result of Coombe‘s appointment, CEO of BSkyB Mike Darcy will become the retailer‘s new Senior Independent Director, Ian Durant, Chairman of Capital & Counties Properties, will become Chairman of the Audit Committee, and Telefonica O2 Europe‘s non-executive Cath Keers has been named as HRG‘s new Chairman of the Remuneration Committee.
In his new role Coombe will also take on the position of Chairman of the Nomination Committee, with all boardroom changes taking affect from the company‘s annual general meeting in July.
At present Coombe is Vice President for Corporate Communications at Liberty Mutual Insurance Group, a non-executive director of HSBC Holdings and Chairman of Hogg Robinson Group, while he was previously the CEO of global FMCG business GlaxoSmithKline.
CEO of HRG Terry Duddy commented: “We are extremely grateful to Oliver for the significant contribution that he has made to our businesses over many years.
“He has been exemplary in his leadership of the Home Retail Group Board and an outstanding ambassador for the Company. We look forward to working with John in his new role.”
