Thursday, February 21, 2019

Maplin names new CEO and a flat annual profit


Maplin has reported positive full year trading results and has also announced significant changes to its board line-up, with a new CEO to start from from September 1. 

After strengthening the board with a number of new appointments, current CEO John Cleland will step down and take a non-executive director role with Maplin, in what the retailer called a “natural evolution of the team”.

Cleland will hand over to Oliver Meakin, the current managing director for Maplin Direct, in September. Meakin first joined Maplin three years ago as commercial director.

Maplin‘s chairman Darren Shapland, who joined the electronic enthusiast company last summer, said Cleland had completed a three year plan that has “improved stores, wider range and a focus on customer service”

Shapland added that Cleland had led Maplin‘s 2,600 employees “with drive and commitment which is second to none. With this stage complete this is a natural time to handover to Oliver who has worked closely with John over the last three years and can build on the solid platform which has been put in place.”

The electronics retailer saw good annual sales growth with total sales up 6.3% to £236m, its strongest growth since 2008.

The company‘s investment in in new internet capability through Hybris and new supply chain capability with i-Force, helped its online sales jump to 20.6%, and represent 10% of the retailer‘s turnover.

Maplin‘s range of computing and electronic goods has expanded to over 45,000 with a wider range available via the internet and in-store via click and collect services.

Emily Thornhill