Gear4music hires new non-executive director as part of wider board changes
Gear4music has announced that Sharon Daly will become a non-executive director of the company on 5 July.
Possessing more than 25 years’ business experience, Daly co-founded Venture Life Group in 2010 and made a significant contribution to its growth until she left in 2023. She is currently a non-executive director of Warpaint London and Brickability Group.
Gear4music announced back in April that its chief executive Andrew Wass will move to the role of executive chair on 5 July and will be succeeded in his position by Gareth Bevan, who is currently chief commercial officer. In addition, Ken Ford will step down as non-executive chair and will retire from the board along with Dean Murray, while Neil Catto will become senior independent director on the same date.
For the year to 31 March, the retailer posted a 5% decline in revenue to £144.4 million following its focus on improving profitability ahead of revenue growth.
Meanwhile, adjusted EBITDA climbed by 34% year-on-year to £9.9 million.
In a statement today, Wass said: “Having delivered the key objectives we set ourselves at the beginning of FY24, the group is well positioned to relaunch its profitable growth strategy for FY25.
“This will focus on expanding sales verticals and channels to market whilst further enhancing and leveraging our unique bespoke ecommerce platform and product offering.”
