It was announced today that Card Factory’s ceo, Karen Hubbard (pictured above) is to leave the business after four years of heading up the UK’s market leading greeting card retailer.
The decision, agreed mutually, sees Karen leaving the day to day running of the business at the end of this month, but will be around to help with a handover, once a successor is appointed, potentially until the end of the year.
Paul Moody, Card Factory’s current chairman, is to take on the role of executive chairman until a new ceo has been appointed and is in the role.
In the announcement to investors, tribute was paid to the ‘significant contribution’ Karen has made to the Card Factory group. It has also been under her leadership that Card Factory has expanded into new channels and markets, evidenced by its distribution agreement with Aldi, concessions in Matalan as well as expansion overseas, with its partnership with The Reject Shop in Australia.
Karen, who has commented: “I am incredibly proud to have led Card Factory over the past four years and to work with the exceptionally talented people that make Card Factory the great company that it is. Together we have undertaken a significant transformation across the organisation to support its future success. The refreshed strategy will provide a strong foundation for the future. I would like to thank all the colleagues across the business for their support throughout my leadership and wish the company and colleagues every success in the future.”
Karen has been very engaged with the greeting card industry ever since she joined the sector. She has spoken at the GCA AGM, providing input on industry matters and been keen to engage with publishers. She has also been held up as one of the few female leaders of a FTSE retail business, listed in Retail Week’s recent Top 100 Most Influential People in Retail.
Paul commented: “The Board would like to thank Karen for her important contribution to the company, made with passion and commitment, over the last four years. The group has a strong customer proposition, the correct strategy for the next phase of development and a highly capable leadership team to deliver it. ”
The Card Factory management team is to present a refreshed growth strategy for the business at the virtual capital markets event on July 28.
The news about Karen’s departure, coincides with an accelerated programme of Card Factory shops re-opening their doors following the Covid-19 shut down. While only 89 of its stores re-opened on June 15, by the end of today, over 700 of the retailer’s shops will be back trading.
Top: Karen Hubbard has been part of Card Factory’s journey for the last four years.