Dunelm is seeking to inject more “energy” into the business after overhauling the board ahead of its next period of growth.
- Peter Ruis and William Reeve have joined as non-executive directors
- John Browett will take on the chief executive role in January
- Dunelm expects to increase sales by 50% over the medium term
The homewares retailer has appointed Jigsaw chief executive Peter Ruis as a non-executive director, having brought on LoveFilm founder William Reeve as a non-exec director in July and appointing John Browett as the company’s new chief executive.
Dunelm’s incumbent chief executive Will Adderley will become deputy chairman in January as he steps aside to make way for chief executive designate John Browett, who was formerly boss of Monsoon Accessorize and before that was in charge of Apple’s retail operation.
Adderley said: “John Browett becoming chief executive will give us more energy. We have been investing in people – the senior team have been either promoted from within or we have hired a few people.
“The board thinks think John and I working together will give us more strength, more infrastructure and more depth. The more talent we can get around the board table and the more energy – energy is really important to us – the better.”
Dunelm founding family member Will Adderley has been chief executive for a year since taking over following the resignation of Nick Wharton.
Adderley said he attempted to hire Browett a year ago but “he was not available”. Browett has now been at the business since July 1 as designate chief executive.
Dunelm has shaken up the board as it prepares for the next stage of growth.
This morning Dunelm revealed pre-tax earnings climbed 4.7% last year to £121.4m on sales ahead 12.7% to £822.7m,
Like-for-likes advanced 3.4% in stores over a 52-week period to June 27, when home delivery sales soared 55% to account for 6.1% of total revenues.
Dunelm has identified store like-for-like sales growth, store openings and building sales and profits from home delivery as the strategic pillars upon which it aims to increase sales by 50% over the medium term.