There has been a boardroom shuffle at Manchester ecommerce and tech giant THG.
Incoming Damian Sanders takes over as chief financial officer, taking over from group co-founder John Gallemore, who moves over to chief operating officer. Gallemore has served as CFO since he founded the group with Matthew Moulding in 2004.
Sanders has been part of the THG board for the last two years, having joined as a non-executive director in November 17, 2020. Prior to that, he was a senior audit partner at Deloitte for 20 years where he headed the audit committee while also overseeing the firm’s divisional re-organisation.
In a statement, THG chairman and former ITV boss Lord Allen said: “”On behalf of the board I’d like to thank John for his hard work and dedication as CFO of THG. Having effectively been undertaking two jobs to date, we are delighted that he will now be able to devote a singular focus to driving the operations of the group where his experience is invaluable.
“We welcome Damian to the business in an executive capacity. I have got to know Damian well since my appointment as chair, and his financial skill, commercial acumen and governance expertise means that he will hit the ground running.”
Moulding added: “Damian has played a key role since joining the group and board, chairing to great effect numerous important projects over the past two years, not least the recently delivered divisional reorganisation.
“Damian’s experience and energy will prove invaluable as we look to deliver the key initiatives planned across the group for 2023 and beyond.”
THG announed a review of its OnDemand division earlier this month and identified £30m of new savings to be made over the course of 2023 as it adjusted 2022 profit forecasts down to £70-80m from an earlier £100-130m.
