HMV appoints Ian Kenyon as group finance director

Kenyon will take up his role from September 3, replacing David Wolffe. Retail Week reported yesterday that Wolffe is poised to leave after 18 months at the entertainment retailer. He will remain at HMV until Kenyon starts to “ensure a smooth handover”.

HMV group chairman Phillip Rowley said: “I am delighted to welcome Ian to HMV on behalf of the management team and the board. He brings with him very valuable experience of working with some very well-run companies and I look forward to working with him.

“I would like to thank David Wolffe for his contribution to HMV, particularly helping guide the company through a turbulent time towards a profitable future.”

HMV has suffered over the past few years as the entertainment market has become increasingly digitalised and shoppers switched to online rivals such as iTunes and Amazon. But the retailer is expected to return to profit next year after securing headroom from its banks earlier this year.

Kenyon joins HMV after four years in his present role, a joint venture between Carphone Warehouse and Best Buy, which operates 2,400 stores across eight European countries. Best Buy withdrew from the UK last year, shutting its 11 stores, because of the harsher than expected retail market.

Previously, Kenyon was also group finance director at Carpetright for three years and has held senior finance roles at Sainsbury’s, Kingfisher and St Ives.

Kenyon joins on the same date that new chief executive and former Jessops boss Trevor Moore takes the helm at the electricals retailer. Last week, chief executive Simon Fox resigned from his post after six years in the business.