Studio Retail, a value retailer, has announced the appointment of Paul Kendrick as its new CEO. Kendrick will be taking over from Phil Maudsley, who recently retired from the company. This leadership change comes as Studio Retail prepares for a potential sale, which was announced last year with the aim of maximizing value for shareholders.

The appointment of Kendrick as CEO follows a carefully planned development and succession strategy that involved collaboration between Maudsley and Kendrick over the past two years. The transition period during the second half of FY21 was successful, laying the groundwork for Kendrick to assume the role.

One of Studio Retail’s main shareholders is Frasers Group, which holds a 37% stake in the company, along with Schroders. Together, they control 56% of Studio Retail. The decision to explore a sale was prompted by a strategic review, which was triggered by the cancellation of the sale of Findel Education to YPO. Furthermore, Frasers Group has expressed its belief that Studio Retail is undervalued by the market through a letter.

In spite of these developments, Studio Retail has been performing well in recent periods. The company is set to provide a pre-close update for the full year in the middle of April, offering shareholders and investors a comprehensive overview of its performance.

As Paul Kendrick takes charge as CEO, he will lead Studio Retail through a phase of change and uncertainty. The appointment of a new CEO, coupled with the potential sale, demonstrates the company’s dedication to driving value and securing a prosperous future. It remains to be seen how Studio Retail will navigate these challenges and continue its success in the value retail sector.

To read more about Studio Retail’s potential sale and leadership change, please visit the following links:

1. Link 1
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