An email has been sent to all Toytown stores, announcing the ‘semi-retirement’ of MD, Alan Simpson, and detailing the new board structure.
Following the news of Brian Simpson’s return to the family business, the email sent to all SMF Toytown stores advises that the new board structure is effective immediately.
Although Alan is taking a step back, he will retain the title of executive chairman. The remaining board structure of SMF will be as follows:
Managing Director – Kris Simpson
Commercial Director – Brian Simpson
Operations Director – Andrew Addley
HR Director – Mark Simpson
The email goes on to say that further information will follow, giving details of all areas of responsibility.
Alan writes: “During the past few weeks, I have been working on restructuring SMF Toytown as I prepare to take a further step back from the day to day running of the business to focus more on an overseeing role, in what I view as semi retirement.”
Alan added that he is delighted to congratulate each of the new directors on their appointments, saying: “I am confident that this structure will enable the company to continue to thrive as it has done over many years.”
The email concludes: “I know that I can rely on each of you to continue to give each of the directors the respect and cooperation that you have afforded to me over the years. I look forward to visiting branches over the coming months and ask for your continued support as we enter the most important trading quarter for any retail business, made even more challenging by the various issues we are experiencing currently. My heartfelt thanks for your efforts and support over the years, Alan.”
The SMF Toytown business has been carefully managed by Alan over the course of the pandemic. Last year, as stores began to reopen, he told Toy World: “Well-run businesses have come to the fore over the past few months – we’ve always been a solid, well-funded operation. We plan to continue with our new store opening programme as soon as we can get on with it.”
Having traded since 1980, in 2021, Toytown enjoyed its strongest ever year, with the retail chain more than doubling its profit on 2019. The business operates on a turnover-rent basis, which has meant that during the pandemic, when stores were closed, it didn’t owe rent on locations not generating income. A decision Alan made 10 years ago, the operating model has resulted in Toytown boasting an exceptionally strong balance sheet.
Speaking exclusively to Toy World last month, Alan maintained his positive attitude: “We enter the final few important months of trading in 2021 with so much uncertainty, but I am extremely confident that SMF is in a great position to deal with whatever curveball is thrown our way.”