Findel has today appointed a new chief executive, Philip Maudsley, and announced that current chief Patrick Jolly will leave the home shopping group.

Maudsley has been at Findel for over twenty years and was chief operating officer for the last six years.

Jolly will step down in March at the end of Findel’s current financial year.

Findel chairman Keith Chapman said: “I would like to thank Patrick for his contribution to the Group. Following the fundraising and refinancing it is a natural time for him to pursue other interests. The board wishes him all the best for the future.

“Philip knows the Group intimately and his skills and the current requirement, to run the business with a clear focus on cash generation and streamlining our core activities, are a perfect match.”