Park (AIM: PKG.L), the UK's leading multi-retailer, multi-channel gift voucher and prepaid gift card provider, announces that it has appointed Tim Clancy to succeed Martin Stewart as Group Finance Director. Mr. Clancy will join the Company and the Board in August.
On 21 December 2017, it was announced that Mr. Stewart would step down from the Board on 4 August 2018 but would remain with the Company to ensure an orderly transfer to his successor. He has agreed to remain in post until such time as the orderly handover can be completed.
From 2013 to his appointment at Park, Mr. Clancy held the role of Chief Financial Officer at Assurant Europe, the European subsidiary of Assurant Inc. the US-listed, global insurance provider. Assurant Europe has revenues of around $400 million and operations in the UK, Ireland, Germany, France, Spain and Italy. As part of his role at Assurant, Mr. Clancy oversaw acquisitions of businesses in the UK, France and Germany, and the integration and consolidation of these acquisitions, generating substantial cost savings and significantly increasing the European Group's profitability.
Other previous roles include, from 2011 to 2013, Finance Director of Lifestyle Services Group, an insurance administrator and outsourcing provider, and from 2009 to 2011, Commercial Finance Director of Shop Direct Group, the owner of the consumer brands Littlewoods and Very, which transitioned from a traditional mail order and high street retail business, to an online retailer with revenues of £1.5 billion.
Prior to this, for ten years Mr. Clancy worked at MyTravel plc, where he was Finance Director of the Airtours division and Managing Director of Going Places, a high street retailer with 500 stores throughout the UK employing 3000 staff.
He is an Associate of the Chartered Institute of Management Accountants.
Laura Carstensen, Chairman of Park, said: “We are very pleased to welcome Tim to the Company as Group Finance Director. He has a great deal of experience in businesses and sectors which are extremely relevant to Park. We will ensure a thorough handover and look forward to working with Tim as we continue our growth trajectory into the future.”