// Studio Retail MD Paul Kendrick promoted to Studio Group CEO
// He will replace Phil Maudsley, who is retiring after 30 years with the company
// Kendrick will assume the position in March next year, and Maudsley will stay on until then
Studio has promoted Paul Kendrick, the managing director of its retail arm, to the post of group chief executive to replace Phil Maudsley.
Kendrick, who is executive director of Studio and managing director of its main subsidiary, Studio Retail, will take over as chief executive of the whole company upon the retirement of the Maudsley at the end of the current financial year, which is March 26 next year.
Studio said this was the outcome of a structured development and succession plan implemented by the board working with both Maudsley and Kendrick over the past two years.
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Maudsley will also be fully involved with the transition during the remainder of this financial year.
Kendrick joined Studio in May 2016 initially as commercial and deputy managing director of Studio Retail before being promoted to managing director in April 2017, and was appointed to the board in December 2019.
During his time at Studio, he has played a key role in driving the online retailer’s growth.
Before he joined Studio, Kendrick was marketing and ecommerce director at Bonmarche, and held various roles at N Brown Group including leading marketing, financial services, international and group development functions.
Much of his early career was spent within the travel industry, at both Thomson (now Tui) Travel and The Co-operative Group.
Meanwhile, Maudsley will retire after more than 30 years of service with Studio, having joined the company in 1987 as general manager of a manufacturing subsidiary.
Since then he has held various roles including managing director of the home shopping division and managing director of Express Gifts.
He was appointed to the Studio board in 2004 before being appointed group chief executive in April 2017.
Maudsley is credited with turning Studio into a focused, online value retailer of scale, and helped oversee last year’s rebrand name change from Findel.
“Phil has contributed significantly to the company’s development and achievements over 30 years including most recently in his capacity as CEO,” Studio chairman Ian Burke said.
“As he approaches his retirement from Studio, I would like to thank him for that contribution, on behalf of the board, and to wish him well in whatever he chooses to do next.”
Maudsley said: “I have thoroughly enjoyed my long career with this group. Seeing Studio evolve from a small Christmas catalogue operation to become a thriving on-line value retailer serving over two million customers gives me immense pride.
“I know that I leave the business in Paul’s very capable hands.”
Kendrick said: “I am truly excited to be given the opportunity to lead Studio Retail Group as we continue our transformation to a digital, value retailer.
“I would like to thank Phil for all his support over the last four years.
“We have built an amazing team which I am honoured to work with as we take the business forward.”