Paul Salador has stepped down as Finance Director (FD) at gift specialist Clinton Cards, it was announced this afternoon.
His resignation will take immediate effect, with Martin Clifford-King taking over from him on a interim basis from January next year.
Salador had been with Clintons for over 15 years having joined from Royle Printing where he was Group Financial Accountant, and has held the role of FD at the retailer since 2009.
A statement from Clinton Cards read: “The board of Clinton Cards, the UK‘s largest specialist retailer of greetings cards, announces that Paul Salador has resigned as Group Finance Director of Clinton Cards and from the group‘s board of directors with immediate effect.
“The board thanks Mr Salador for his valuable contribution to the company, in particular his role in ensuring the recent successful renegotiation of the company‘s banking facilities.”
Clifford-King is certainly not inheriting an easy job, with Clintons currently investing in store renovation to combat plummeting sales which saw the retailer lose £10.7 million in the year ending July 31st 2011, however the executive has plenty of experience of this type of position.
Since 2008, Clifford-King has held interim FD or Chief Financial Officer roles at Hobbycraft, Whistles and Costa Coffee, and before this he held similar positions with MFI, Harveys Furnishing and Debenhams.
Clintons statement added: “Martin Clifford-King is joining the company on January 3rd 2012 as interim Finance Director and has extensive experience as Finance Director or interim Finance Director of both listed and unlisted retail companies.”