Vivid Toy Group has announced that Paul Weston is stepping down as chairman of the business with immediate effect.
In a toy industry career spanning 33 years, Paul was one of the original founders of Toys R Us UK prior to joining Vivid and has ultimately led the business for the last 10 years. His unique experience of having operated at senior levels on both the manufacturing and retail sides of the industry gives him a unique platform to launch his new consulting business, Press Play, allowing him to advise across the whole spectrum of product development, distribution, licensing and retail.
Vardhan Rajkumar of Privet Capital, the private equity firm which invested in the business in March 2017, will take on the role of chairman of Vivid.
On the decision to start his new venture, Paul commented: “I’ve been so fortunate in my career to have been involved in two majorly successful startup companies, working alongside some of the most talented people in the industry, and on some of the biggest and most iconic global toy brands. I now feel the time is right to pursue a new direction that will give me greater flexibility in my life, whilst also presenting a new set of exciting challenges. However, I am also delighted to be continuing my relationship with Vivid and its new investor Privet Capital, and look forward to helping them achieve their ambitions of broadening and strengthening the brand portfolio, and driving further international expansion.”
Vardhan Rajkumar added: “Paul has done a terrific job at Vivid and played a huge role in the company’s success over the past 24 years. We are extremely pleased that Paul will continue to work with the Vivid team as we look to take the company into the next phase of growth.”
Paul can be contacted at email@example.com or on 07850 130027.