Friday, March 23, 2018

News: Crawshaw Group loses two top execs

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The man brought in to lead on a transformational growth plan at Rotherham-based fresh meat and food to go retailer, Crawshaw Group PLC, is to step down from his CEO role.

The AIM-listed Hellaby firm announced growth plans in 2014 that involved investing £200m, opening 200 stores and creating 2,500 jobs.

Noel Collett joined Crawshaw as chief executive officer from Lidl, having spent 16 years with the German discounter supermarket. He has now informed the Board of his intention to step down to pursue other opportunities but will remain in his role until a replacement CEO is appointed to ensure an orderly hand over.

The Group has also announced that Alan Richardson, chief financial officer, has notified the Board of his intention to leave the business in early May to take up an opportunity outside the group.

Jim McCarthy, chairman of Crawshaw Group, said: "The Board of Crawshaw thanks Noel and Alan for their contribution and wishes them success in their future endeavours. We anticipate being in a position to announce a new CEO and CFO in the near term who will help drive the business forward."

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Crawshaws expansion plans stumbled in 2016 as difficult trading conditions continued. As new stores opened, standardised offers and price points were also introduced into existing stores but the management admitted that they "didn't resonate as well with customers as we thought."

A transformational 2017 deal with the 2 Sisters Food Group enabled Crawshaw to restart its accelerated new store opening programme, with an initial focus on factory shop locations.

These destination sites are seen as particularly attractive as they allow the retailer to offer even greater value to customers through larger pack sizes and value progression.

Following a busy festive period, which saw group sales in the week leading up to Christmas reaching a record £1.8m and almost 3,500 value meat hampers sold, the company has reported that "trading in the first six weeks of the new financial year has been challenging, exacerbated by the recent poor weather but the factory shop format continues to perform well."

Full Year Results are expected in April.

Crawshaw website

Images: Crawshaw

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