NED Sanders in as Moulding shuffles THG board

THG chief executive Matt Moulding has moved his board around after promising investors last week that improved profit performance was his priority. 

Former Deloitte partner and THG non-executive director Damian Sanders is to take over from John Gallemore as chief financial officer.

Gallemore, one of the founders of the business with Moulding, moves to a new role of chief operating officer. The company said the appointment follows “an extensive search both internationally and domestically”.

Sanders joined the THG board as a non-executive director in November 2020, and he has served as audit committee chair and chair of the divisional reorganisation committee since July 2021. 

A statement to the stock market this morning, said: “through his work with and knowledge of THG, the board believes Damian is ideally placed to take on the role. 

“Damian’s appointment will enable John, who has been covering both the Finance and Operations functions until now, to focus solely on the role of COO and build on the excellent progress he has overseen in THG’s global fulfilment footprint. John continues as an Executive Board Director.”

Prior to joining THG, Sanders was a senior audit partner at Deloitte for 20 years and a member of Deloitte’s North West Leadership Team, having also held several other senior management roles. 

Gallemore who started THG with Moulding in 2005 said: “Since Matt and I set up THG 18 years ago, we’ve enjoyed an incredible journey and have grown the Group into a truly global player, delivering record revenues of c. £2.25 billion in 2022. I am pleased to be handing over the group’s incredibly talented finance team to Damian, allowing me to work more closely with Matt and the divisional chief executives in capitalising on the significant commercial opportunities ahead.”

Sanders commented: “I’m delighted to be taking on the role. I’ve got to know the business well in the two years since I joined the board and now look forward to working in an executive capacity to help drive the Group forward as we continue to grow on a global scale.”

Moulding, said: “Damian has played a key role since joining the group and board, chairing to great effect numerous important projects over the past two years, not least the recently delivered divisional reorganisation. Damian’s experience and energy will prove invaluable as we look to deliver the key initiatives planned across the Group for 2023 and beyond.

“I’m also delighted to appoint John as chief operating officer, which follows a smooth and expansive roll-out of the Group’s global distribution network, alongside his excellent work in leading Ingenuity through its formative years. John’s knowledge of the business is second-to-none, and the appointment of Damian will allow John to work closely with me on further evolving the commercial and operating models of each of our divisions.”