New man in driving seat for Scalextric turnaround

Toymaker Hornby has appointed a new chairman to oversee a turnaround plan at the firm.

John Stansfield, a Hornby veteran of 31 years, will take up the role in a non-executive capacity.

A qualified accountant, he spent 12 years as its finance chief, and will replace Lyndon Davies, who will step down from the interim chairman position to focus on his role as chief executive of Hornby.

Separating the roles of chairman and chief executive will enable the company to better comply with corporate governance, Hornby added.

Davies said: “[Stansfield’s] accumulated knowledge over three decades at the company has helped us navigate some of the difficult changes we are making. I can’t think of a better person to lead the board through this important period and beyond.”

The company, best known for its model railways and Scalextric car race tracks, earlier this year reported pre-tax losses of £10.1 million for the year to 31 March, up from losses of £9.5m a year earlier.