Wednesday 21 November 2018

Halfords poaches from Waitrose top team to replace finance chief

Loraine Woodhouse has been named as Halfords new finance chief (John Lewis/PA)
Loraine Woodhouse has been named as Halfords new finance chief (John Lewis/PA)

Helen Cahill

Halfords has poached from Waitrose's top team to replace outgoing finance chief Jonny Mason.

The car parts and bikes retailer has appointed Loraine Woodhouse, who has been finance director at Waitrose since 2015, as its new chief financial officer.

Ms Woodhouse, who has also held finance director roles at Hobbs, Costa Coffee and Intu, will succeed Mr Mason on November 1.

She also has experience in finance and investor relations at Kingfisher, owner of B&Q and Screwfix.

Halfords chief executive Graham Stapleton said: "I am delighted that Loraine will be joining Halfords as CFO and look forward to working with her.

"She has extensive finance leadership within service-based retail and will be a great addition to the senior team.

"I would also like to take this opportunity to thank Jonny Mason and to wish him every success in the future."

Halfords' annual profits fell in 2017-18 after the retailer was forced to stomach rising costs linked to the Brexit-hit pound.

The group booked a 6pc fall in full-year pre-tax profit to £67.1m in the year to March 30, while revenue rose 3.7pc to £1.13bn.

Halfords outlined £25m in additional costs as a result of the weaker pound against the US dollar, knocking the group's share price by 14pc.

Press Association

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