Halfords CEO leaves despite fleet business growth
David Wilds has stepped down as CEO after an update to the City which saw the Halfords Group report revenue down 5.2% in the 13-week period to June 29. While its retail business saw revenue fall by 7.6%, the flourishing Autocentres division recorded 14.5% growth in revenue.
In its trading update, the company reported ‘a pleasing performance with further strong growth in revenue and market share’ for the Autocentres business, and revealed that tyre-fitting now represents in excess of 10% of Autocentre revenues.
Autocentres has also announced the appointment of ex-AA and RAC man Andrew Huntly to the new role of business development director. He joins from his role as European general manager at Virgin Altlantic and his main role will be to drive growth in fleet business.
Bill Duffy, chief executive of Halfords Autocentres, said: ‘Fleet currently represents about a quarter of our revenue and we are aiming to grow this in line with our overall business growth targets.
‘With Andrew’s appointment we are investing to ensure that we have the right capabilities and resources to develop attractive propositions for our customers. Andrew’s extensive experience in driving business opportunities will be key to ensuring our ambitious targets are met. To support Andrew we are also expanding our B2B team of key account managers.’
The company’s interim executive chairman, Dennis Millard, said: ‘'The consumer environment remains difficult and the unseasonal weather conditions this quarter had a direct impact on sales of cycles and outdoor leisure products.
‘In this challenging economic environment the management team will be focused on maximising our trading performance and cash generation, prudent cost management and delivering the longer term strategy outlined to shareholders in May 2012.’