THG non-exec director Dominic Murphy steps down with immediate effect

THG non-executive director Dominic Murphy is stepping down from the board with immediate effect.

“It has been nearly eight years since I joined the board of THG, during which time I have had the privilege to witness the group’s journey through a period of profound transformational growth,” Murphy said.

“Considering the length of my tenure, I feel that now is the right time to step down as an independent non-executive director of THG.

Murphy went on to thank THG – the global technology business specialising in D2C – for allowing him to serve on its board for this period, describing it as a “remarkable journey”

“The group has grown to be a genuine market leader in its chosen markets. I wish THG and the board all the best for the future.”

READ MORE: THG shares surge as bidding war looms

Matthew Moulding, CEO of THG – who has recently been the subject of rumours that he would be prepared to take THG off the stock market for £3bn – thanked Murphy for his service.

“Dominic has brought a wealth of experience to the Board and I would like to sincerely thank him for his invaluable contribution to THG over its transformational journey during his tenure. We wish Dominic the very best for the future.”

The board and the nomination committee will continue their search for suitable additional independent non-executive directors to further strengthen the board.

THG has become a takeover target in recent months after losing over two-thirds of its market value since it floated on the London Stock Exchange in 2020. Moulding has made it clear that he plans to stay on as chief executive if THG is taken private.

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2 Comments. Leave new

  • Mark Andrew Sproston
    June 9, 2022 6:33 pm

    I have spoke with the hut group through thick and thin I don’t know how long I can continue doing this. On paper I have lost a lot of money and does anybody know what the consequences will be of the owner Matt holding decides to go private has anyone got the answer

    Reply
    • Mark Andrew Sproston
      June 9, 2022 6:36 pm

      I worded my first comment wrong. It was meant to say I have stuck with the hut Group through thick and thin I have lost a lot of money. Does anybody know what happens to people like me with shares of the company goes private.

      Reply

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