Halfords Group plc
Delayed London Stock Exchange - 02/19 05:35:12 pm

Halfords : nets Honeybee boss Graham Stapleton as new chief executive

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09/13/2017 | 09:10 am

Halfords is to replace its departing chief executive Jill McDonald with the boss of Dixons Carphone's software business.

Honeybee CEO Graham Stapleton will begin work in mid-January, Halfords said.

The cycle-to-auto parts retailer was told in May that Ms McDonald was leaving to lead a new recovery effort in the struggling fashion and homewares division of Marks and Spencer.

Halfords said she would go at the end of September with the company's chief financial officer, Jonny Mason, assuming the additional responsibility of acting chief executive until Mr Stapleton begins work next year.

The new Halfords boss has experience in areas of its business as his early career was dominated by the establishment of his own company that offered car detailing and refurbishment services.

He also worked at M&S - the next destination for his predecessor.

Halfords recently reported a trading boost from a 'staycation summer' - saying its sales were growing thanks to more Britons choosing to holiday at home as the weak pound makes in-resort spending overseas more expensive.

Mr Stapleton said of his appointment: "Halfords is a business with a 125 year heritage and a market leading brand that strongly resonates with me and the UK public and I am delighted to be joining the company.

"I really look forward to working with my new colleagues to continue to implement the service-led strategy and, over time, identify further growth potential."

Halfords chairman,Dennis Millard, said: "Graham is an outstanding business leader with the retail, digital, services and category credentials that are an ideal fit for his role as CEO of Halfords.

"We set out our "Moving up a Gear" strategy just under 2 years ago and Graham will continue to drive its implementation."

Halfords revealed he would be paid an annual basic salary of £535,000 and a pension contribution of 15% of basic salary.

He would also qualify for a potential annual bonus of 150% of salary and be compensated to the tune of almost £370,000 for awards that were due at Dixons Carphone but were subject to his retention.

(c) Sky News 2017: <a href="http://news.sky.com/story/halfords-nets-honeybee-boss-grahham-stapleton-as-new-chief-executive-11033312">Halfords nets Honeybee boss Graham Stapleton as new chief executive</a>, source Sky News

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