The Hut Group 'to announce board shake-up'
Online retail giant The Hut Group is reportedly set to announce a number of senior board changes this week.
According to Sky News, founder and CEO Matthew Moulding will become executive chairman after taking over from Richard Pennycook, the former Co-op Group boss who has been on The Hut Group's board for six years.
Rachel Horsefield, CEO of Beauty, will join the board as an executive director; and Zillah Byng-Thorne, CEO of media group Future, will become a board member and chair the audit committee.
As part of the changes, UK dealmaker Dominic Murphy is expected to become the company's senior independent director as part of the changes.
Manchester-headquartered The Hut Group was established by Moulding and John Gallemore in 2004 and has grown to employ a global workforce of more than 4,000 people.
In May, the technology company published its annual results for 2017, revealing group sales of £736 million and gross profits of £318 million.
Two months ago it announced plans to develop new headquarters (pictured above) totalling nearly a million square feet near Manchester Airport.
The "landmark" business campus will support up to 10,000 jobs and has been hailed as the largest development ever by a North West company and the UK's largest bespoke office development outside London.
More to follow.