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THG appoints Sue Farr as senior independent director


The Hut Group (THG) has appointed Sue Farr as its senior independent director, with immediate effect.

Farr has spent over 16 years in non-executive director roles following a successful career in advertising, marketing and media.

Her current non-executive directorships include senior independent director positions at British American Tobacco, Lookers, Helical and Accsys Technologies.

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However, Farr plans to step down from her role at Accsys at the forthcoming AGM having served for nine years.

During the past five years, she has also held non-executive directorships at Dairy Crest and Millennium & Copthorne Hotels.

“I am delighted that we have been able to attract someone of the calibre of Sue Farr, who has had an impressive executive career across a number of consumer, media and marketing businesses, and has since gone on to demonstrate her skills as an experienced senior independent director and committee chair,” independent chair Charles Allen, Lord Allen of Kensington CBE said.

“Building on the progress made over the last 12 months, this appointment is consistent with the board’s stated intention to continue to improve corporate governance and enhance its composition by improving independence and diversity.”

Farr added: “I am pleased to be joining THG at such an exciting time for the group as it continues to grow and scale globally.

“THG is a business I have long admired and I look forward to working with Charles and the rest of the board on this next stage in the group’s journey.”

This comes as THG’s CEO and co-founder Matthew Moulding called out institutional investors, stockbrokers, analysts and the media against “fake news” and frequent media intrusion, following a £495.6 million loss in its full-year results, which the beauty giant attributed to the “challenging global environment”.

Last week the company received a preliminary offer from private equity giant Apollo Global Management, resulting in its share price surging 43%, which followed a rejected a £2.07 billion bid from private equity firms Belerion Capital and King Street last year, in what the THG said “significantly undervalued the company and its future prospects”.

Image credit: Shutterstock

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