Ottakar’s in management reshuffle
Reorganisation builds ‘team to lead growth’
Book retailer Ottakar’s has issued a statement explaining recent management changes which saw the departure of three directors.
There was heavy trading in Ottakar’s shares on Tuesday after analyst Richard Ratner of Seymour Pierce issued a note suggesting that continued pressure on sales made the business a potential takeover target. US giant Borders is launching its smaller Borders Express format in the UK this year, while Barnes & Noble might also see Ottakar’s as a point of entry into the UK, Ratner speculated.
Ottakar’s, which operates 131 stores, made its statement “in light of recent trade comment.” Head office changes were being made “in order to build a team to lead Ottakar’s during the next stage of its growth,” said the retailer.
The range and marketing departments have been reshuffled, with the promotional buying function moved from the marketing department and brought into the range buying function.
Within the range department a new commercial department is being created, focusing on publisher terms and the supply chain. This part of the business will be run by Helen Dance, Ottakar’s new commercial manager.
Following the reorganisation, Paul Henderson has resigned as marketing director from the end of this month, and will continue as a consultant until a successor, expected to come from outside the company, is appointed.
The new product development function is also being reorganised. As a result Graham Edmonds, who joined Ottakar’s in October 2003, “has decided to use this as an opportunity to pursue his publishing ambitions and writing career”. Richard Wakeham, IT director, has also resigned “in order to pursue new opportunities”. He will remain at Ottakar’s until his successor is in place.
James Heneage, chief executive, said: “We have looked carefully at our head office management structure and decided to make certain changes which will have the effect of developing the Ottakar’s brand, tightening our buying and creating new efficiencies within the supply chain.
“I would also like to thank all three members of the management team for the contribution they have made to Ottakar’s and wish them well in whatever they do next.”
