Card Factory PLC on Monday said that Chief Financial Officer Kris Lee will step down following a ‘transition period’.
Lee joined the Wakefield, England-based greeting card and gift retailer as CFO back in July, 2017.
Card Factory said that Lee has played a ‘significant role’ in helping to guide the company, particularly during the Covid-19 pandemic. It added that he has recently delivered a financing package, providing the company with ‘a strong base for delivery of its future strategy.’
But the board and Lee ‘have agreed that now is the right time for change,’ it said.
Card Factory has commenced the search process for Lee’s successor. It explained that he will remain in the role for the transition period, working with the company to assist in this process and help ensure an orderly succession. Lee’s notice period will expire on April 22 next year.
The company added that it continues to trade in line with the board’s expectations in the year-to-date and will publish its interim results on September 27.
Chair Paul Moody said: ‘I would like to thank Kris for his significant contribution over the last five years. 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.’
Shares in Card Factory were down 1.9% to 51.00 pence each in London on Monday morning.
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