Morrisons finance director Richard Pennycook has joined the board of The Hut Group to help guide it as it looks to expand globally.
The Hut Group launched its first website in 2004 and now has 15 home shopping brands including zavvi.com, TheHut.com and Lookfantastic.com. It also runs a technology services division that specialises in business-to-business software and ecommerce platform services.
Pennycook, who has been group finance director at Wm Morrisons Supermarkets since 2005, joins as a non-executive director. His appointment to The Hut Group board comes at a time when he has already said he plans to stand down from his current role in June 2013 to concentrate on a portfolio career.
“We are thrilled that Richard is joining our board,” said Angus Monro, chairman of The Hut Group. “He is one of the most respected retailers in the UK and his wealth of experience will be invaluable as we continue to build the group into a major global ecommerce player.”
Pennycook said he had been impressed by The Hut Group’s growth to date. “The group operates a compelling and disruptive business model with tremendous growth opportunities,” he said. “I am delighted to become part of such an enthusiastic, skilled and professional team and look forward to contributing to The Hut’s future development.”
