Dunelm's Nick Wharton steps down as CEO

Homewares retailer Dunelm Group has announced that its chief executive Nick Wharton has stood down and has been succeeded by the company's executive deputy chairman Will Adderley.

Having joined the Dunelm board in 1992, Adderley took over the running of the company in 1996 and remained as chief executive through its IPO in 2006. In 2011, he moved to the full time role of executive deputy chairman where he worked on a range of operational and strategic projects with a focus on long-term strategy. He is the son of Dunelm founders Bill and Jean Adderley.

In a statement Wharton explained that he was leaving the company as the time was right for a new challenge. He said: "When I took on the role, my priority was to create the team, systems and infrastructure appropriate to the group's size and ambitions, whilst continually developing the customer offer to maintain growth. 

“Having done so successfully, the time is right for a new challenge. In returning the reins to Will Adderley I have no doubt that Dunelm will continue to perform strongly and I wish all colleagues within the business well for the future."

Dunelm chairman Geoff Cooper added: “Nick's work in establishing an excellent operational and commercial platform has enabled Dunelm to seize the opportunity to exploit its position as the UK's largest homewares retailer, which will continue to provide growth in the group's market share and financial performance.

“Having conducted a comprehensive search process involving external and internal candidates, the board concluded that Will, with his innate retail flair, is the best person to lead Dunelm into its next chapter of growth.  He is an outstanding retailer who knows Dunelm, and the world of homewares, better than anyone, and has a real passion for this business."

The news comes as Dunelm reports that its pre-tax profit rose by 7.3% to £116 million in the year to 28 June.

Source: The Retail Bulletin.

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