Lloyd Stephens has become the latest member of the senior management team to leave First Quench Retailing, the owner of struggling off-licence chain Threshers.
Stephens, who was commercial director, left "to explore other opportunities". He would not say why he was leaving but insisted that his departure was amicable.
Stephens, who joined Threshers in January 2007 as trading director before taking on the commercial director role in November 2008, has been replaced by Mike Osmond, who joins from Somerfield where he was a board director responsible for buying.
Martin Healy, acting CEO of First Quench, said: "I would like to thank Lloyd for his valuable contribution to the business over the past couple of years.
"Mike has had a very impressive career in retail spanning nearly 30 years and his significant experience in building businesses for success will be invaluable as we move forward."
Osmond was upbeat about First Quench's prospects, even though the group, which also owns The Local, Haddows and Wine Rack fascias, made a pre-tax loss of £30m in the year ending June 2008 and is still not profitable. It also lost trade credit insurance for its suppliers in January.
"It is a strong business with great prospects and solid plans," said Osmond.
Osmond was at Somerfield for 16 years, holding senior commercial and category roles. He is the latest in a string of recent management changes at First Quench.
CEO Yvonne Rankin is on long-term sick leave and her role is being filled by chief financial officer, Martin Healy until her return. Jonathan Butt, the group's head of global sourcing, left earlier this month after 11 years at the company to set up his own agency and sourcing business, Butt Naked Wines.
Stewart Honour, head of supply chain, also left this month after just over a year with the company and is yet to be replaced. The group also drafted in Bruno Kusters as chief operating officer last month, replacing its IT and central operations directors.
Stephens, who was commercial director, left "to explore other opportunities". He would not say why he was leaving but insisted that his departure was amicable.
Stephens, who joined Threshers in January 2007 as trading director before taking on the commercial director role in November 2008, has been replaced by Mike Osmond, who joins from Somerfield where he was a board director responsible for buying.
Martin Healy, acting CEO of First Quench, said: "I would like to thank Lloyd for his valuable contribution to the business over the past couple of years.
"Mike has had a very impressive career in retail spanning nearly 30 years and his significant experience in building businesses for success will be invaluable as we move forward."
Osmond was upbeat about First Quench's prospects, even though the group, which also owns The Local, Haddows and Wine Rack fascias, made a pre-tax loss of £30m in the year ending June 2008 and is still not profitable. It also lost trade credit insurance for its suppliers in January.
"It is a strong business with great prospects and solid plans," said Osmond.
Osmond was at Somerfield for 16 years, holding senior commercial and category roles. He is the latest in a string of recent management changes at First Quench.
CEO Yvonne Rankin is on long-term sick leave and her role is being filled by chief financial officer, Martin Healy until her return. Jonathan Butt, the group's head of global sourcing, left earlier this month after 11 years at the company to set up his own agency and sourcing business, Butt Naked Wines.
Stewart Honour, head of supply chain, also left this month after just over a year with the company and is yet to be replaced. The group also drafted in Bruno Kusters as chief operating officer last month, replacing its IT and central operations directors.
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