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SUBSCRIBE FOR FREE founder steps down as CEO and is succeeded by firm's COO

Online electrical appliances retailer has confirmed that its chief operating officer Steve Caunce has been promoted to the position of chief executive. He has succeeded founder John Roberts who will move to a new role on the board as executive director.

ELECTRICALS founder steps down as CEO and is succeeded by firm's COO

While Caunce will lead the company and be accountable for strategy and performance delivery, Roberts will focus on innovation and inspiring AO's people.

In a statement, the company said the transition in management roles reflects AO's rapid growth and the board's succession planning work since its IPO. AO has evolved from being a domestic retailer in the UK in 2014 in a single category, to operating in the UK, Germany and the Netherlands and selling more products from multiple categories.

Roberts said: "I am as committed as ever to AO, both as an executive and as an investor, and remain hugely excited about the future of this fast-growing business. 

"I am immensely proud to be handing over the CEO reins to Steve, who has been with me on the AO journey for more than 10 years. This is the right time for this change - for AO, for Steve and for me - and I look forward to continuing to work closely together."

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