Ideal Shopping Direct PLC
10 February 2006
Ideal Shopping Direct Plc
8 February 2006
Ideal Shopping Direct Plc
Paul Wright to move to non-executive role
Ideal Shopping Direct plc, Britain's leading independent home shopping TV
channel, today announces that Paul Wright, Deputy Chairman and one of the
original founders of the business, has indicated his intention to step down from
his executive role on March 7th 2006.
Paul will remain on the Board as non-executive Deputy Chairman, and will
continue to be responsible for a number of new business initiatives already
being pursued. He is the company's largest individual shareholder, with
approximately 13% of the equity.
Paul Wright, Deputy Chairman, said:
"With the business now well set to develop on a number of new fronts, this is
the right time for me to make the move to a non-executive role. We have a strong
management team in place and I will continue to help them in identifying and
pursuing the many exciting opportunities for growth in the online and TV
shopping markets."
Jim Hodkinson, Chairman, commented:
"We would like to thank Paul Wright for his major contribution to the business
over the many years since he co-founded it in 1980. I am delighted that we will
be able to continue to draw on his extensive experience in maintaining our rapid
growth momentum in the most exciting areas of retailing."
Enquiries:
Ideal Shopping Direct plc Tel: 0870 077 7004
Jim Hodkinson, Chairman
ReputationInc Tel: 020 7758 2800
Tom Wyatt
NOTES TO EDITORS
Paul Wright is 55. He and fellow non-executive director Val Kaye founded the
business in 1980, originally as WrightWay Marketing, and floated it on AIM in
February 2000. The Ideal World TV shopping channel was then launched in April
2000.
Ideal Shopping Direct now operates 4 shopping channels:
"Ideal World" on Sky, Freeview and NTL
"Create and Craft", which addresses the niche hobby & craft market, on Sky
"Ideal Vitality", which focuses on Health, Beauty & Fitness on Sky
"Jewellery Vault", which is a falling price jewellery auction channel, launched
in July 2005, on Sky.
Each channel is supported by a transactional website.
Paul stepped down as Chief Executive in September 2005, to concentrate on new
business development opportunities. He won the Growth Investor accolade as
Entrepreneur of the Year in 2005.
Paul remains the company's largest individual shareholder with approx. 13% of
the equity.
This information is provided by RNS
The company news service from the London Stock Exchange
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