Angling Direct PLC (LON: ANG) have announced a new CFO in Steven Crowe. The former Aviva plc (LON: AV) Finance finance executive will take the role on January 2nd.
Crowe begum his career at PricewaterhouseCooper where he rose to the ranks before taking positions in senior finance at Aviva.
Crowe worked at Aviva for ten years, where he worked as director of finance managing business units with £3 billion to £4 billion in turnover.
Ian Hunter, the current CFO is set to step down after taking the devision to run his own consultancy business.
Angling Direct Chief Executive Darren Bailey said: “The board would like to thank Ian for his significant contribution to the group, helping it through its IPO and establishing the company on AIM. We wish him all the best in his new venture.
Bailey added “We are delighted to welcome Steve as chief financial officer of Angling Direct at an exciting time in the group’s development. Steve brings a wealth of financial experience gained in the e-commerce and insurance sectors, particularly in the planning and management of M&A and international growth. We look forward to working with Steve as we continue to deliver our multi-channel growth strategy.”
Only last week, Angling Direct announced plans to take over Erics Angling showing an intent to grow and dominate the UK angling market.
Crowe joins Angling Direct at a good time as earlier this month, the fishing equipment retailer reported a rise in interim sales and profits and now expects to meet its full-year expectations.
In the period to July 31st, the angling titans saw a 15.7% rise in adjusted EBITDA to £1.25 million on sales up 25% to £26.5 million.-
Store revenue was up 41.1% to £14 million, when UK online sales rose 16.8% to £9.2 million and in Europe advanced 29% to £2.7 million.
In retail news, WH Smith (LON: SMWH) shares have rocketed after a new acquisition, Dunelm (LON: DNLM) faced a crash in their stock price and Laura Ashley (LON: ALY) announced their finance director would leave the company.
Currently, Angling Direct shares are trading at 58.p per share. 23/10/19 11:27BST.
