Halfords boss quits to take up senior role with Tesco

THE boss of Worcestershire-based retailer Halfords has quit his position to take a senior role with Tesco.

In a statement to the London Stock Exchange, Halfords said CEO Matt Davies had resigned to take up the position of UK and ROI CEO at Tesco plc.  

Davies will remain as CEO of Halfords until the end of May 2015 but the board said it had already begun the search for his replacement.

The announcement coincided with a trading update from Halfords showing that in the 13 weeks to Boxing Day, trading had continued to be strong and was in line with management expectations. A full trading update for the 15 weeks to January 9, 2015 will be published on January 21.

Commenting on behalf of the Halfords board, Dennis Millard said: “We would like to thank Matt for his outstanding contribution to the business. Our Getting Into Gear Strategy is well underway and we have set a clear direction, built significant momentum across the organisation and are making good progress. Halfords is a strong business with leading positions in a number of large and attractive retail and service markets, led by an excellent and well established management team.”
 
Davies said: “My decision to leave has been very difficult. I have really enjoyed my time at Halfords, working with a great team of people across the business, helping to create and deliver a clear service-focused strategy. I am fully committed to driving the business over the next few months before I depart, as we continue to implement the Getting Into Gear Strategy.”
 
Following his resignation, subject to his continued employment, Davies will receive his normal salary and associated benefits until his leaving date.
 
Davies has also resigned as a Non-Executive Director with Midlands-based retailer Dunelm. His resignation is with immediate effect.