Paperchase names new CFO
After David Bateman resigned after 17 years in the role, the retailer has now announced his replacement
Paperchase, the stationery, cards and gifts retailer, has announced the appointment of a new chief financial officer.
Kevin Heath will leave his position as retail finance director at Paperchase, to become the CFO, after the previous CFO, David Bateman, stepped down in September after 17 years in the role.
Mr Heath joined Paperchase in 2005, as head of finance, before becoming deputy finance director and then retail finance director.
The appointment comes at the same time as Duncan Gibson joins the company as chief operating officer, after having previously worked in a number of senior roles with Brakes Group, Abel & Cole and The Disney Store.
Mr. Bateman, who grew Paperchase’s turnover from £15 million to £150 million, will maintain his equity share and sit on the board as a non-executive director.
The retailer is trying to break into the American market, with its first standalone store in the US set to open in Chicago, and the appointment of former Pets at Home CEO, Nick Wood, as a non-executive chairman confirmed earlier this year.
Chief Executive, Timothy Melgund said: “These are two very important appointments for Paperchase. We wanted to find a COO who had real empathy with our Paperchase DNA, who understands the brand’s potential and can work alongside the current senior team…Kevin Heath has been a key figure in the business for many years and I’m delighted to see him progress to our main board.
“These two appointments are very good news for Paperchase”.
Nick Wood, Chairman of Paperchase, said: “Duncan and Kevin are great additions to the Paperchase board. Duncan has fantastic experience working in a number of global markets, and across stores and ecommerce. He will add significant value driving our growth ambitions and provide strong long term succession.
“Kevin has done an excellent job as Finance Director and has Paperchase in his blood – he really deserves this promotion.”
Paperchase operates with 200 shops worldwide, across Asia, Europe, and Dubai, with 160 stores in the UK.
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