Steve Caunce has announced that he’s stepping down from online electrical retailer, AO World.
John Roberts, who founded the company, will return to the CEO role.
“Steve has played a vital part in AO’s development and in the last two years has created the foundations for our future success. I look forward to continuing to work with him, as I have over the last 13 years,” said Roberts.
“AO’s future is incredibly bright given our depth of talent at all levels of the business. I am fully committed to the business and the execution of our focussed strategy and can’t wait to get stuck in again as CEO as we move onto the next exciting stage of the AO story.”
Caunce will no longer hold a board position, but will continue to remain involved in the business on a part-time basis as an advisor.
“It is a privilege to have played a significant part in AO’s success and to have led the Company for the last two years. I have decided to step down at a time when I feel AO is well placed to continue to thrive as a leader in our sector. I look forward to contributing to the AO team as we execute our strategy,” he said.
Caunce was responsible for the group’s European expansion and acquisitions including Mobile Phones Direct.
“Steve has significantly professionalised and upgraded our business and operating capabilities. He has established and strengthened management teams in the UK and continental Europe, who are both getting on with execution of our strategy,” added AO Chairman Geoff Cooper.
“As Chairman I have been impressed with his work as CEO; he has made a fundamental contribution over 13 years both in building AO into the business it is today and in setting out our commitment to delivering for shareholders going forward.”