The Original Factory Shop has promoted joint MD Ian Williams to the newly created position of CEO.
The move comes as fellow joint MD Phil Briggs leaves the retailer after five years, in which he has steered it through the pandemic and last year led the opening of 28 stores, taking the estate to about 200.
Williams, who until now has been TOFS CFO as well as joint MD, will assume his new role with immediate effect. He has also been with the retailer for over five years, having previously held senior positions at Asda and American Golf.
“I’m excited to be taking on the role of CEO at this pivotal time in TOFS journey,” said Williams.
“Having been with the business for over five years, I understand the important role it plays in many local communities across the UK. It has great growth potential, and we have ambitions to continue opening and investing in even more stores across the UK.”
TOFS chairman Alistair McGeorge said: “I am delighted to welcome Ian to his new role. He has extensive retail experience and brings a clear understanding of what is required to keep TOFS on its path towards further growth.
“We’d like to thank Phil for his contribution to the business and wish him every success for the future.”
In December, TOFS renewed a £12m asset-backed loan facility – which had been due to expire in April 2023 – for a further three years.
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