E-commerce retailer THG has named Charles Allen as its new chairman as Matt Moulding will continue as CEO at the beleaguered company.
The company had previously declared it would split the roles of executive chair and CEO held by Matt Moulding.
Allen, who has the same role at FTSE 250 construction giant Balfour Beatty, is to join THG with immediate effect.
His CV also includes stints as CEO of ITV and Granada Group, plus chief advisor to the Home Office.
The group said Allen will endeavour to refresh the company’s board and “further strengthen governance and diversity,” in an announcement on the London Stock Exchange on Tuesday morning.
Moulding said Allen’s expertise in consumer and digital fields would “help THG to continue to drive profitable and sustainable growth.”
“Furthermore, on a personal note, his appointment will enable me to focus my attention on delivering the group’s plans for growth,” he added.
Shares in the online retailer dipped one per cent in early trading on Tuesday morning after rising slightly on the market’s open.
Allen said it was a “privilege” to join the company and said he would seek to improve the board’s “independence and diversity.”
He also said he would “review and develop the strategy and support management as it seeks to further strengthen its talented leadership team.”
“Over several weeks I have had the opportunity to meet the board and senior team, see the operation and understand the finances and business plans,” he added.