The Hut Group appoints Richard Pennycook as non-exec director
Online retailer The Hut Group has appointed MorrisonsÂ’ Richard Pennycook as a non-executive director.
Pennycook, currently group finance director at Morrisons, announced earlier this year that he would be leaving the supermarket in June 2013 to concentrate on building a portfolio career.
The Hut Group said in a statement that Pennycook’s experience as both a chief executive and chief financial officer would be "highly complementary" as the group looks to expand its global presence.
Angus Monro, chairman of The Hut Group, commented: "We are thrilled that Richard is joining our board. He is one of the most respected retailers in the UK and his wealth of experience will be invaluable as we continue to build the group into a major global e-commerce player."
Pennycook added: "I have built a close relationship with Matt, John and the team for a number of years and I have been very impressed with the progress and growth which they continue to deliver.
"The group operates a compelling and disruptive business model with tremendous growth opportunities. I am delighted to become part of such an enthusiastic, skilled and professional team and look forward to contributing to The Hut’s future development."
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