Wednesday, May 24, 2017

Findel approaches former Home Retail CEO Terry Duddy for chairman role

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Retailer Findel has reportedly approached former Home Retail chief executive Terry Duddy to take over as its chairman.

According to Sky News, Duddy is understood to be among “number of people” approached by the home shopping mail order retailer, after Sports Direct chief executive Mike Ashley failed in his bid.

The current chairman is David Sugden, who announced his resignation three weeks ago.

Another potential candidate to replace Sugden is reportedly David Shearer, a specialist in corporate turnarounds.

Ashley had launched a bid to take on the chairman role a few months after he increased his stake in the business to just below the threshold at which a takeover bid would have to be tabled.

However, Findel rejected it at the end of last month as the company posted a 5.3 per cent up tick in sales.

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