Carphone Warehouse today announces that Andrew Harrison will become CEO of Carphone Warehouse Group PLC, while Roger Taylor will take on the role of Deputy Chairman. Harrison was formerly CEO of Carphone Warehouse Europe.
Welcoming the news, Taylor said “This appointment recognises the outstanding contribution Andrew has made to the business throughout his 17 years with Carphone Warehouse, during which time he has played an important part of many of our growth strategies, including our Best Buy Mobile venture and Connected World strategy.”
As part of the planned succession, Graham Stapleton, who was formerly the company’s Chief Operating Officer, will replace Harrison as CEO of UK and Ireland.
Harrison explained “I’m delighted that Graham will be succeeding me in this role. During the last two years as our Chief Operating Officer, he has built great relationships with our network and manufacturer partners and has led the development of our business and customer strategy. Graham has played an important role in delivering the strong financial results we have been able to announce today, so I know the UK & Ireland business will be in the best possible hands.”
In other news Carphone Warehouse have also delivered their financial results:
•Revenue growth of 11.5% to £3,694m (2012: £3,313m)
•Significant UK market share gains across all categories
•Like-for-like revenue growth of 4.6% for the full year; strong momentum in H2
•Headline EBIT £137m, in line with guidance (2012: £135m)
•Strong operating free cash flow of £245m (2012: outflow of £40m)
Roger Taylor, CEO, commented “Carphone Warehouse has had another good year, during which we made key strategic moves and delivered on our guidance. In the UK, we have grown our market share in both the postpay and prepay segments through ‘Smart Deals’ and excellent customer service, continuing to build our trusted brand. The acquisition of Best Buy’s 50% share of CPW Europe is now complete and we are excited to regain full control of the business, with the clarity and focus of management that the business deserves.
“Looking ahead, we see many opportunities for which I believe the business is well-positioned, including a continued focus on growing market share, replicating the UK’s excellent operational execution across Europe and delivering on our strategy of bringing our Connected World capabilities to other business partners. Today we announce the formalisation of our relationships with Media Markt / Saturn and Metro Group. With Media Markt / Saturn we are now pressing ahead across the Netherlands, following successful store trials and, with Metro Group, we formally announce an intention to roll out the Connected World in Germany across the Metro/Makro Cash & Carry, Real and Galeria Kaufhof brands. These are exciting opportunities with the potential to develop both of these relationships in other marketplaces.
“Lastly, the completion of our acquisition of Best Buy’s 50% share of CPW Europe means that once again Carphone Warehouse’s retail operation forms the core of the Group’s business. It is logical, therefore, that Andrew Harrison, who has run this business for several years, should step up to become chief executive officer for the Group. Andrew has worked for Carphone Warehouse for over 17 years and has been an important part of many of our growth strategies including our Best Buy Mobile venture and Connected World strategy. I will move to become deputy chairman, maintaining many of my existing responsibilities, and welcome Andrew to his new role.”
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