Brand Architekts CFO quits
Brand Architekts Group is losing its Chief Financial Officer. Tom Carter has resigned from his role and from the board to become CFO at OnTheMarket, the UK challenger beauty business said Tuesday.
However, he will remain in place until no later than July, “to ensure a smooth transition for the group”.
Chairman Roger McDowell said: “Since joining the group in June 2020, Tom has been instrumental in putting in place the appropriate systems, procedures and robust structure for a focused beauty branded business, resulting in efficiency improvements and improved financial governance.”
Brand Architekts said the process to identify his successor is under way led by Simon Pyper, Chair of the Audit committee, and the rest of the board. The company said it will provide further updates as and when appropriate.
It reiterated that trading in the first half of the year was in line with the board's expectations.
That comes after 2020/2021“one of the most turbulent and testing” periods for the group as the ongoing impact of Covid-19 was still affecting “buying patterns, freight costs, labour inflation and therefore margin” it said in a November statement covering the year to 30 June.
Revenue fell 10% to £14.3 million as the group “navigated the challenging external environment and the impact of reduced consumer confidence on demand”.
The company intends to announce its interim results in late March.
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