Review consultant named new chief executive of Findel

Mr Siddle has spent the past four months as an outside consultant advising the Burley-in-Wharfedale-based group on its Full Potential Review, the results of which will be announced in the next few months.

Most recently, Mr Siddle was chief executive of BPP Holdings, one of Europe's largest professional training and education companies.

He is a former managing partner of the UK business of Bain & Company, the leading global business consulting firm.

Mr Siddle decided to join Findel after working on the review as he believes the group has future potential.

He has previously worked with chairman David Sugden overseeing the 330m sale of BPP Holdings to Apollo Global at a 70 per cent premium to the pre-bid price.

Mr Siddle will succeed Philip Maudsley, who will become managing director of the group's Home Shopping business and will remain a member of Findel's board.

Findel said Mr Maudsley has gone back to the job he does best. Mr Maudsley, the group's former chief operating officer, replaced Patrick Jolly as chief executive last year.

Mr Sugden said: "We would like to thank Philip Maudsley for his contribution in leading the group as chief executive over the past year, during what has been an extremely challenging time for Findel. I am delighted that he has agreed to focus his efforts where they will be most valuable to the group."

Mr Maudsley has been with the group for over 20 years.

Mr Sugden said that Mr Siddle had acquired an intimate knowledge and understanding of the group's businesses during the time he has spent working on the Full Potential Review.

"His decision to take on the position of chief executive is testament to our collective belief in the potential for the group," he said. "I have worked alongside Roger in the past and he has a proven track record as a manager, demonstrated during his time at BPP and Bain, and combines operational experience with strategic expertise."

Last month Findel sold two online businesses, I Want One of Those and Confetti, for 600,000 in a move to reduce debts.

The sale followed Findel's decision to dispose of or terminate non-core or loss-making operations.