Friday, March 2, 2018

News: Fishing Republic lands new director


Rotherham-based Fishing Republic, one of the largest fishing tackle retailers in the UK, has appointed a new chief operating officer as it tackles "a significant deterioration in trading."

Stephen Kyriacou has joined the board of directors of the Eastwood company that floated on the AIM stock exchange in 2015, raising millions to help carry out its expansion plans.

Kyriacou has over 20 years' experience in delivering change management programmes, including for the divisions of major organisations such as Primark, Barclays Bank, Morrisons and BT. He joined the company in December 2017 from Primark Stores, where he was programme director for Oracle Retail and Financials.

Since December, he has been co-ordinating the various operational changes put in place following the company's organisational review, and has been leading the new management team, which is implementing the operational improvement plan.


Following a period in 2017 which saw "a significant deterioration in trading," Chris Griffin was brought in to as act as a CEO on a temporary basis to conduct a strategic review. Steve Gross, the company founder, stepped down as CEO and remains on the board as an executive director.

Last month Fishing Republic raised £1.3m through a new share placing and said that the net proceeds will be used to further advance and develop the company's e-commerce operations, logistics and merchandising activities following a review of operations. It will also be used to provide additional working capital to accelerate the rate of growth of online sales.

James Newman, executive chairman of Fishing Republic, said: "I am pleased to welcome Steve to the Board as chief operating officer. His extensive operational and commercial experience, particularly in eCommerce and change management, will help to drive the significant changes we are making across the business."

Fishing Republic website

Images: Fishing Republic


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