// Angling Direct reveals board succession plan
// CEO Andy Torrance is stepping down from his role and being appointed as non-executive chairman
Angling Direct has unveiled its board succession plan that will involve CEO Andy Torrance stepping down to take on the chairman role.
The specialist fishing tackle and equipment retailer said its chief financial officer, Steve Crowe has been chosen by the board to replace Torrance and will be appointed CEO.
Meanwhile, Martyn Page will step down from his role as non-executive chairman and will remain on the board as a non-executive director.
The board has initiated a search for a new CFO using external consultants.
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Torrance joined the business as a non-executive director in 2019 then moved to the chief executive position in February 2020.
He is recognised for successfully navigating the company through Covid-19 lockdowns and minimising the impact of an extensive cyber-attack in 2021.
He has also led the development Angling Direct’s growth strategy which has included establishing a new European distribution centre.
Meanwhile, Crowe became the company’s chief financial officer in 2020 after holding executive finance roles at Aviva and Validus.
Torrance said: “Angling Direct is a great business with great potential and I have thoroughly enjoyed my time as CEO. Having navigated a number of challenges since taking on the role at the outset of the pandemic in 2020, I feel that now is the right time to hand over the reins to Steve.
“Having worked closely with Steve since joining, I know that his in-depth knowledge of the business, combined with his financial rigour and passion for angling, will ensure Angling Direct continues to thrive and I look forward to working with him and the wider board in my new chairman role.”
Page added: “I would like to take this opportunity, on behalf of the board, to thank Andy for everything that he has done since joining the group in 2019. I am pleased that Andy has agreed to replace me as chair as retaining his retail experience and counsel will be invaluable to Steve in his new role and indeed the entire board.
“Having founded Angling Direct nearly 40 years ago, the business is in great shape with strong financial foundations and I am confident that Steve is the right person to lead the business through the next phase of growth. We look forward to further enhancing the skillset and capabilities of our Board once a new CFO has been identified.”
