Card Factory CEO to step down as hunt is launched for replacement
GREETING CARD retailer Card Factory yesterday revealed that its CEO, Karen Hubbard, will be stepping down at the end of June after four years in the role.
The company said nonexecutive chairman Paul Moody would take on an executive chair role until it names a new CEO.
In a statement, Wakefieldbased Card Factory said: “Karen has made a significant contribution to the group, driving the evolution of the business from a recently listed company to an established plc that is the clear market leader in greetings cards. Karen has implemented a solid platform for future growth, recruited a strong executive board, overseen entry into new channels and markets and led the development of the refreshed strategy which is now more relevant to the market and macro-economic environment we face today.
“As we look forward to the execution of this refreshed strategy, Karen and the board have agreed that this is an appropriate time to transition to new leadership committed to the longer-term successful implementation of the next phase of the group’s return to growth.”
Ms Hubbard said: “I am incredibly proud to have led Card Factory over the past four years and to work with the exceptionally talented people that make Card Factory the great company that it is. Together we have undertaken a significant transformation across the organisation to support its future success. The refreshed strategy will provide a strong foundation for the future. I would like to thank all the colleagues across the business for their support throughout my leadership and wish the company and colleagues every success in the future.”
The Card Factory was founded by entrepreneur Dean Hoyle in the 1990s and has grown to operate from more than 900 UK stores.