Hobbycraft parts ways with chief financial officer Will Newton

Newton left the arts and crafts specialist at the beginning of August after two years at the company.

Moore has been drafted in on an interim basis while the retailer finds a permanent replacement for Newton. It is understood the company is in the advanced stages of seeking a full-time replacement.

The change of chief financial officer comes a few months after Hobbycraft hired Katharine Poulter as its commercial director from Tesco-owned Dobbies Garden Centres.

Hobbycraft is in the process of repositioning itself to attract a wider customer demographic. It is seeking to appeal to young adults with new ranges such as a music festival-inspired product line.

Newton joined Hobbycraft in July 2013 from gettingpersonal.co.uk and previously held a head of finance role at Pets at Home and a financial controller position at Phones4U.

Interim replacement Moore has held a variety of roles outside of the retail industry. Prior to working at ITV, he was financial planning manager at LOCOG (London Organising Committee of the Olympic and Paralympic Games) and senior business development manager of content at Virgin Media.

Bridgepoint-owned Hobbycraft is expected to reveal its full-year financial results next month.

Last year Hobbycraft revealed its EBITDA fell 52% to £7m for the year ending February 23, 2014, as it invested in initiatives including a new loyalty card. Revenues grew 9% to £129.6m during the same period.