Halfords Regulatory News (HFD)

7 Feb 2008 07:02

Halfords Group PLC07 February 2008 Halfords Group plc Halfords announces that Ian McLeod, Chief Executive, has resigned from thecompany having accepted a leadership position with a large retailer based inAustralia. The Board has agreed that Ian McLeod can take up his new position andstep down from the Board on 29 February 2008. The Board will now select a successor from a range of internal and externalcandidates and a search consultancy has been appointed to assist with thisprocess. In the interim period the two Board executive directors, PaulMcClenaghan (Trading Director) and Nick Wharton (Finance Director) will reportto the Chairman as Acting Joint Managing Directors. Richard Pym, Chairman, said: "Ian McLeod has been a fantastic Chief Executive inthe three years that he has held the position and whilst we are disappointed hehas resigned, we understand his decision to accept the opportunity that has beenoffered. The Halfords Board would like to thank Ian for his valuable contribution to thecompany's successful growth and development. "Halfords has a clear strategy and a strong management team and that continuesin place. The trading update issued today shows the positive trading performancefor the 43 week period ending 25 January and Ian leaves Halfords in a goodposition. We wish him well for the future." Ian McLeod, Chief Executive, said: "It has been a privilege to be part of theHalfords transition from private ownership to an independently listed companyonce again, and then continue to build our financial performance and marketposition year after year. "The decision to leave has therefore not been an easy one as I have thoroughlyenjoyed working with everyone to deliver the improvements that have beenachieved together. I am confident that Halfords' success will continue given thecompany's strength in its people and in each of its core categories." This information is provided by RNS The company news service from the London Stock Exchange