Halfords names Dixons Carphone executive as new boss

British bicycles to car parts retailer Halfords (HFD.L) on Wednesday named Dixons Carphone (DC.L) executive Graham Stapleton as its new chief executive with effect from January next year.

Stapleton will succeed Jill McDonald who is leaving Halfords at the end of September to run Marks & Spencer’s (MKS.L) clothing business.

She will start as M&S managing director, clothing, home & beauty on Oct. 2.

Halfords said Jonny Mason will be interim CEO, in addition to his existing role as chief financial officer, with effect from Sept. 22 and until Stapleton starts on Jan. 15 2018.

Stapleton is currently CEO of Dixons Carphone’s software business, Honeybee.

Prior to that, he ran Dixons Carphone’s Connected World Services Division and Carphone Warehouse UK & Ireland. He has also worked for Kingfisher (KGF.L) and M&S.

McDonald set out Halfords’ “Moving up a Gear” strategy just under two years ago, which focuses on boosting service-related retail sales.

“(Stapleton) will continue to drive its implementation and pursue our service-led, growth strategy,” said Halfords Chairman Dennis Millard.

Last week Halfords maintained its full-year profit guidance after summer sales were boosted by more Britons opting to holiday at home due to the weaker pound.

However, the flip side of a weaker pound for Halfords is that it raises sourcing costs.

Shares in the group, down 7.5 percent over the last year, closed Tuesday at 305 pence, valuing the business at 619 million pounds.


Source: Reuters