TV shopping specialist Ideal Shopping Direct has appointed Mike Hancox as chief executive.

Hancox, formerly chief executive of home shopping company Otto UK, will take up his post on November 3.

He is credited with turning Otto around and faces a similar challenge at AIM-listed Ideal, which issued a profit warning in September. Hancox replaces Andrew Fryatt, who stood down earlier this month following a profit warning in September.

Ideal chairman David Williams said Hancox’s “extensive experience of home shopping, internet retailing and supply chain management will be invaluable”.

Hancox said: “I expect Ideal Shopping Direct to play a significant role in the development of the home shopping market. I believe that the combination of my previous experience, the skills already in place at Ideal and the market opportunity will enable the company to make significant progress and create real shareholder value.”

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