The Hut Group has announced a boardroom reshuffle in a move that will see its chairman leave the Manchester-based online beauty retailer.
Founder and chief executive Matthew Moulding will become executive chairman at the end of the year with Richard Pennycook, the former Co-op Group chief executive who has been on the fast-growing company’s board for six years, stepping down.
Initially signed to serve a three-year term, Pennycook’s time on the board was rolled into a second term at an overall agreement of a maximum of six years.
The company’s CEO of its beauty division, Rachel Horsefield, will join its board as an executive director.
