Former Sun European Partners operating partner Frank Maassen has been appointed as director general of French furniture and electricals chain But.
Maassen, who has experience in developing ecommerce and retail operations, has worked across the electricals, homewares and furniture sectors in a number of positions, including at furniture specialists ScS and Sharps bedrooms. He replaces Regis Schultz who has left to become Darty chief executive.
Since its acquisition in 2008 by a group of investors including OpCapita, Goldman Sachs and Colony Capital, But has invested in its supply chain and product offer, resulting in an increase in furniture market share from 9.2% in 2008 to 10.7% in 2012.
The retailer has increased sales and profits over the last three years, with revenue rising from around €925m to €1.15bn in 2012.
Before joining Sun European Partners, Maassen worked for industrial equipment firm Hunnebeck Group and was chief executive of Hunnebeck France.
Maassen said: “But has a well appreciated brand, significant franchise and a great team. I am very excited to work with this team to further develop But to its full potential.”
John von Spreckelsen, head of But’s supervisory board and former Thorntons chairman, said: “Given his operating, retail and online expertise, we are very happy to welcome Frank Maassen to lead But at a time of interesting change in the retail industry.”