Card Factory gets new chief executive Karen Hubbard from B&M to replace Richard Hayes

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Card Factory said there's "significant growth" to come (Source: Getty)

Card Factory has appointed the current chief executive of bargain retail chain B&M, Karen Hubbard, to fill the shoes of its outgoing boss.

Hubbard will take over from Card Factory's chief executive, Richard Hayes, in Mid-April. Hayes is due to leave at the end of June, after a four-month transition period.

Hubbard held a number of senior roles at Asda from 2009 to 2014 and had previously spent 14 years at BP's retail operation.

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"This is a wonderful chance to lead a very successful and fast-growing value retailer with a clear leadership position in its market. I have enjoyed my time at B&M but this was simply too good an opportunity to ignore," Hubbard said.

Geoff Cooper, Card Factory's chairman, added: "There is significant growth still to come from Card Factory, and the board is confident that she is the right person to take on the mantle from Richard to deliver it."

Card Factory reported sales growth of 7.9 per cent for the nine months to the end of October, down from the 8.7 per cent growth reported in the same period last year.

Tags: Card Factory