Tim Franklin appointed as Chair of Shop Direct Finance Company Limited and Shop Direct Ireland Limited
September 8, 2022
Shop Direct Finance Company Limited (“SDFC”) and Shop Direct Ireland, subsidiaries of The Very Group which operates multicategory digital retailers Very and Littlewoods, have appointed Tim Franklin as Chair.
Tim, who is an experienced board Director and Chair with a track record of delivery across a variety of financial services businesses, has been a Non-Executive Director and Chair of the Audit Committee at SDFC since October 2021. His previous experience includes Chief Operating Officer at Co-operative Banking Group and Managing Director of Britannia Building Society’s member business, as well as Non-Executive and Chair roles at Post Office Insurance, HM Land Registry and not for profit organisation Reclaim Fund.
The current Chair of SDFC and Shop Direct Ireland, Richard Banks, will step down from the Chair role once FCA and CBI formal approval is received, and step down from the companies’ Boards in December 2022. During almost nine years in the roles, Richard drove highly effective engagement with the FCA, including leading the SDFC Board through the process of the business becoming FCA-regulated. As Chair of Shop Direct Ireland, Richard has led the company’s strong development, supporting management in their drive for improved cost management, operational excellence and re-launching of the brand.
Henry Birch, group CEO at The Very Group, commented: “We’re delighted to be welcoming someone of Tim’s calibre as the new Chair of SDFC and Shop Direct Ireland. Having already been part of the SDFC Board for almost a year, Tim knows the business inside out and we’re looking forward to our future under his excellent leadership. I know he’ll do a brilliant job as Chair of Shop Direct Ireland, too.
“We’d also like to thank Richard for his invaluable support and guidance over the last nine years. He is a hugely respected colleague and heads off to his next challenge with our very best wishes.”
Tim Franklin said: “I’ve really enjoyed getting to know the business and team over the last 10 months and am excited about exploring the opportunities we have to further strengthen SDFC and Shop Direct Ireland in the years ahead.”
Ashley Muldoon (The Very Group)
Notes to editors
With annual revenue of £2.3bn, The Very Group is a unique digital business that combines online retail and flexible payments. Our digital retail brands, Very and Littlewoods, helps to bring 2,000 desirable labels within easy reach of more customers.
Our team of passionate people has a shared purpose: making good things easily accessible to more people, and we’re here for the millions of online shoppers across the UK and Ireland.
Across electrical, home, fashion and more, we sell everything our 4.8 million customers could need, except food. And our flexible payment options, which are provided responsibly via our Very Pay platform and regulated by the Financial Conduct Authority, help our customers manage their household budgets.
We have over a hundred years of history behind us, but at our heart there is a passion for change – to constantly improve what we do, to innovate with data and technology at our core and to be the best possible place to work.