Paperchase finance chief resigns

Paperchase finance chief

Paperchase chief financial officer David Bateman has resigned after 17 years with the stationery retailer, according to Retail Week.

The high street chain has not announced who will replace Bateman, who will maintain his equity stake in the retailer after he departs.

Bateman joined Paperchase in 2000 and since then he has grown the retailer’s turnover from £15 million to £150 million.

READ MORE:  Paperchase secures Nick Wood as chairman amid flotation rumours

Paperchase chief executive Timothy Melgund told Retail Week that Bateman has been “absolutely instrumental to the growth and success” of the retailer.

“He‘s been a tremendous business partner and his fantastic retailing insight and business acumen have taken us from being a small UK retailer to one with international pedigree and significant growth potential,” he said.

Paperchase trades in 200 stores across the world, with 160 in the UK. It is set to open its first standalone store in the US in Chicago.

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