Former Hobbs finance director Loraine Woodhouse is to become a non-executive director of Associated British Foods (ABF), parent of highly successful retailer Primark, effective from 1 October.
She will become a member of the Audit and Remuneration Committees on appointment and will chair the Audit Committee from April next year.
Woodhouse joins with “extensive experience across all finance disciplines and has worked within many different sectors including retail”. Apart from the Hobbs post, she has also been finance directors for John Lewis Partnership’s supermarket chain Waitrose and Capital Shopping Centres. She currently serves as a non-exec director and Audit Committee chair at property giant British Land.
Woodhouse joins at an ever-busy period for Primark with the fashion and lifestyle retailer continuing its international store rollout with additions scheduled for Portugal, with a target of 14 stores there, and in Romania, where the store count is up to three, and growing.
It’s part of the retailer’s ambitious growth plans to expand across new and existing markets with the aim of reaching 530 stores by 2026. This summer, it entered its 17th market, opening its first store in Budapest, Hungary.
On Thursday, ABF said revenue at Primark is expected to be up around 4% in the second half, which ends next week. Those numbers have been driven by a strong sales contribution from new locations, it noted.
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