Richard Pennycook becomes non-exec chairman of Ideal Shopping Direct
Former Co-op chief executive Richard Pennycook has been appointed as Ideal Shopping Direct’s non-executive chairman.
Acquired by Blackstone in 2015, Ideal Shopping Direct operates three live TV channels in the UK and US and a number of pure play brands in the craft marketplace.
The company’s chief executive Mike Hancox said: "I am excited to be working with an executive with such an outstanding reputation in the retail and digital sectors. Richard has a proven track record of success and will play an important role in continuing the growth of Ideal Shopping Direct.”
Pennycook also holds non-executive chairman roles with The Hut Group, Fenwick's department stores and Howden Joinery.
Commenting on his appointment, Pennycook said: "Ideal Shopping Direct has established itself as a hugely innovative operator in the digital market. It has successfully grown the Create and Craft TV channel in the UK and US, and I am very much looking forward to working with the management team and the company’s investors at Blackstone."
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