CFO to leave high street retailer

Card Factory’s chief financial officer Kris Lee is to leave after the board decided “now is the right time for change”.

Lee has been with the Wakefield-headquartered retailer for five years but will now serve his nine-month notice period while a search for his successor takes place.

Card Factory confirmed trading “is in line with the board’s previous expectations” and it will publish its interim results at the end of September.

Paul Moody, chairman of Card Factory, thanked Lee for his “significant contribution” to the group.

He said: “In particular, he has worked tirelessly to deliver a successful refinancing in recent times and leaves the company with a solid platform to move forwards.”

The change comes as Lee helped guide the business through a turbulent period including the impact of the pandemic and recently “delivered an attractive financing package, providing the company with a strong base for delivery of its future strategy0.”

Lee added: “It has been a pleasure working with Card Factory over the last five years; and I am proud of what the team achieved against an exceptionally challenging backdrop.

“Card Factory has made significant progress in recent years and has a clear strategy for the years ahead.”