CEO cites personal reasons for surprise move after 17 years
Sudden changes at IG Design Group have seen Paul Fineman cite personal reasons for stepping down after 17 years with the business, the past 14 of which as group chief executive officer.
The announcement on Monday (21 February), came as a surprise to the greeting card and giftwrap community, particularly due to Paul’s swift departure next week (Tuesday 1 March) with the company stating that the search is now on to find his successor.
In the meantime, executive board director Lance Burn, who has been with the company for over 10 years, will take on the role of group chief operating officer, leading the group on a day-to-day basis following on from his previous role as ceo of the group’s international division. Meanwhile non-executive chairman Steward Gilliland will also be taking a more active role with the support of the wider team.
Stewart commented: “There is no doubt that Paul’s contribution to the group has been significant, diversifying the business and strengthening our omni-channel customer relationships. Paul led the transformation from International Greetings to the global, diversified business that Design Group is today, with revenues now approaching $1billion (£74million). We would like to thank Paul whole-heartedly for his committed service across many years and we wish him well for the future.”
The board is at the final stages of the appointment of the group’s new chief financial officer and has agreed that Giles Willits will remain with the company until June 2022.
The group’s trading in January was in line with the company’s latest forecasts, with the business continuing to successfully build its order book for the new financial year, although the city was disappointed last month when it issued its second profit warning in three months and axed its final dividend. In the USA Lance, in his role as interim group coo, is now leading the review of the Design Group Americas business, following the exit of Gideon Schlessinger, DGA chief executive officer.
With its head office in Newport Pagnell, Bucks, IG Design Group is the world’s largest consumer gift packaging business and a designer, innovator and manufacturer of products across five major categories – celebrations, gifting, craft and creative play, stationery, and not-for-resale consumables – working with more than 11,000 customers in over 80 countries throughout the UK, Europe, Australia and the US.
Top: Paul Fineman is stepping down after 14 years as IG Design Group’s ceo
