NEWS

Hobbycraft boss John Colley quits after two months

Published on: 13th September 2017

The former B&Q and Screwfix executive has stepped down from his role with immediate effect.

Retail Week revealed in April that Bridgepoint-owned Hobbycraft had poached John from Majestic Wine, where he had served as managing director of its retail division. During his time with the wine specialist, John rebuilt its senior leadership team, increased its focus on customer service and shopper loyalty, and rolled out click-and-collect and next-day delivery propositions.

John departed the retailer in May and officially succeeded Catriona Marshall in the Hobbycraft hot seat in June. The retailer said it would unveil John’s successor ‘shortly.’

A Hobbycraft spokesman said: “After a short period as CEO John Colley has decided to move on and he goes with our good wishes. The business continues to trade strongly ahead of last year and of budget, and has a strong management team in place. We will announce shortly who will assume leadership of the business. We remain very confident about the future.”

John added: “After eight exciting weeks at Hobbycraft I have decided to step down as CEO. It is a unique business with great prospects; however, the fit wasn’t right for me. I wish the team all the best for the future as I look for new opportunities.”

In June, Hobbycraft revealed that currency headwinds and business investment had taken its toll on its bottom line in the year to 19th February. The retailer’s EBITDA slumped 29% to £7.7m, compared to £10.9m the previous year. Hobbycraft said, however, that profits had “resumed their previous upwards trajectory” since the start of its current financial year.

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