Card Factory names new chief executive
Greeting cards retailer Card Factory has appointed Karen Hubbard as its chief executive designate to replace Richard Hayes who is stepping down after eight years.
Since 2014 Hubbard has served as chief operating officer at multi-price value retailer B&M where she has been accountable for retail operations, distribution & logistics, supply chain, IT, HR, marketing and store development.
Her previous positions include a number of senior roles at Asda including executive director of property, format development & multi-channel. She also spent 14 years in BP’s retail operations, initially in her native Australia before moving to the UK in 2008 where she became UK convenience retail director. This included responsibility for BP’s own retail estate including Connect/Simply Food, Motorway, Express and the franchise channel.
Due to join Card Factory on 22 February, Hubbard will succeed Richard Hayes as chief executive in mid-April. Hayes has been with the group since 2003 and has served as managing director and chief executive since 2008. He recently made the board aware of his wish to step down once a suitable successor had been identified. He will retire from the board and leave the group at the end of June 2016.
Geoff Cooper, chairman of Card Factory, said: “Richard has led Card Factory with enormous success. Since he joined the senior management team in 2003 the group has grown from a 40-store discount chain to a vertically integrated high margin value retailer with over 800 stores and two transactional websites. Having led the business through an MBO, the 2014 IPO and its first two years as a listed company, it is fully understandable that he now wants to retire.”
He added: “Karen has a huge amount of relevant experience in value retailing, both through store estates and multi-channel. She clearly has a great deal of energy, and ambition for the business. There is significant growth still to come from Card Factory, and the board is confident that she is the right person to take on the mantle from Richard to deliver it.”
