8th Feb 2006 09:00
Ideal Shopping Direct PLC10 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 TVchannel, today announces that Paul Wright, Deputy Chairman and one of theoriginal founders of the business, has indicated his intention to step down fromhis executive role on March 7th 2006. Paul will remain on the Board as non-executive Deputy Chairman, and willcontinue to be responsible for a number of new business initiatives alreadybeing pursued. He is the company's largest individual shareholder, withapproximately 13% of the equity. Paul Wright, Deputy Chairman, said: "With the business now well set to develop on a number of new fronts, this isthe right time for me to make the move to a non-executive role. We have a strongmanagement team in place and I will continue to help them in identifying andpursuing the many exciting opportunities for growth in the online and TVshopping markets." Jim Hodkinson, Chairman, commented: "We would like to thank Paul Wright for his major contribution to the businessover the many years since he co-founded it in 1980. I am delighted that we willbe able to continue to draw on his extensive experience in maintaining our rapidgrowth momentum in the most exciting areas of retailing." Enquiries: Ideal Shopping Direct plc Tel: 0870 077 7004Jim Hodkinson, Chairman ReputationInc Tel: 020 7758 2800Tom Wyatt NOTES TO EDITORS Paul Wright is 55. He and fellow non-executive director Val Kaye founded thebusiness in 1980, originally as WrightWay Marketing, and floated it on AIM inFebruary 2000. The Ideal World TV shopping channel was then launched in April2000. 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 newbusiness development opportunities. He won the Growth Investor accolade asEntrepreneur of the Year in 2005. Paul remains the company's largest individual shareholder with approx. 13% ofthe equity. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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