Card Factory appoints new chairman as Geoff Cooper steps down

Card Factory said on Monday that Paul Moody, the former chief executive officer of drinks company Britvic, will step into the role of chairman with effect from 19 October.

Moody will succeed Geoff Cooper, who had advised the company's board back in February that he was looking at leaving for personal reasons related to his health.

Moody spent almost 20 years at Britvic, including eight as CEO. In this role, he led its IPO in 2015 and a number of "significant" acquisitions. He is chairman of 4imprint Group, a direct marketer of promotional products in the US, Canada and UK, and non-executive director and chair of the Remuneration Committee at pet care company Pets at Home. He was also previously chairman of Johnson Service Group.

Chief executive officer Karen Hubbard said: "Geoff has made a significant contribution to the group, having overseen the significant development seen since IPO in 2014, and I would like to thank him on behalf of the whole business for his contribution, leadership and understand his wish to concentrate on fewer commitments."

Paul Moody said: "I'm very excited to be joining Card Factory at this stage in its evolution. It is a company with an enviable market leading position, a unique business model and is presented with a number of opportunities to build further value under its current strategy and beyond."

At 1045 BST, the shares were down 1.4% to 185.92p.