The Original Factory Shop has promoted joint managing director Ian Williams to chief executive, effective immediately as his fellow MD Phil Briggs leaves the business after five years.
During his tenure, Briggs is credited with successfully steering the discount chain through the pandemic and is responsible for opening 28 new The Original Factory Shop (TOFS) branches in its last financial year.
Williams, who previously served as the retailer’s finance boss, has previously held senior positions at Asda and American Golf.
Subscribe to Retail Gazette for free
Sign up here to get the latest news straight into your inbox each morning
The new chief executive said the leadership change comes at a “pivotal time in the TOFS journey” as it ramps up its store expansion.
Williams said: “Having been with the business for over five years, I understand the important role it plays in many local communities across the UK.
“It has great growth potential, and we have ambitions to continue opening and investing in even more stores across the UK.”
The retailer renewed its £12m asset backed loan facility, which was due to expire in April, for three more years last month.
It said the financing “will help underpin TOFS growth plans and show the strong support from the group’s owners and partners in the businesses future”.
TOFS chairman Alistair McGeorge added: “[Ian] has extensive retail experience and brings a clear understanding of what is required to keep TOFS on its path towards further growth.”
Click here to sign up to Retail Gazette‘s free daily email newsletter
