Findel's chairman steps down

HOME shopping group Findel today announced that Keith Chapman had decided to step down as chairman of the group with immediate effect.

David Sugden, who was appointed a non-executive director of Findel in August 2009, has been appointed chairman in his place.

In a statement, the company, based Burley-in-Wharfedale, West Yorkshire, said: "This decision follows the review referred to in the circular to Findel shareholders published in July, which was led by Keith Chapman with support from the senior independent director, to determine an appropriate structure for the board going forward."

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Mr Sugden said Mr Chapman had successfully led Findel for many years and the company was "extremely grateful" for his efforts.

He added: "Findel is now one of the leading major groups in home shopping and the distribution of educational and medical supplies. Under his leadership Findel also became the largest manufacturer of greeting cards in Europe prior to the demerger and subsequent sale of this business to Hallmark in the late 1990s."

In December 2009, Findel said it was parting company with chief executive Patrick Jolly.

Findel described the split as "very amicable".

The company said that Mr Jolly's skills were suited to Findel when it was expanding, but now it is being run for cash and to reduce debt it was a natural time for him to leave.

Mr Jolly has been replaced by chief operating officer Philip Maudsley, who has been with the group for over 20 years.