Move of the week: Directors Mountford and Haydon quit Pep&Co

Managing director Adrian Mountford and trading director Cathy Haydon have been with the business for almost four years and played a key role in the rapid expansion of its store estate, including shop-in-shops within Poundland and Dealz stores.

“One thing that catches my eye is that neither Mountford nor Haydon has a new role lined up, according to Retail Week sources”

Both are experienced retailers who can list senior positions with a number of well-known brands on their CVs, including Matalan and Sainsbury’s in Mountford’s case, and M&S and Tesco in Haydon’s.

One thing that catches my eye is that neither Mountford nor Haydon has a new role lined up, according to Retail Week sources.

Whether their exit relates in any way to the accounting scandal that has engulfed parent company Steinhoff remains to be seen – Pep&Co insists not – but the fact the pair have a long working relationship that pre-dates Pep&Co makes their next move all the more intriguing.

Mountford was buying director at BHS in the early 2000s at the same time as Haydon was merchandising director, meaning the two will have worked closely together in integral roles.

Shared history

The fact their tenures at Pep&Co so closely overlapped suggests Mountford and Haydon have a strong working relationship, and I just wonder whether the timing of their departure – and the fact they reportedly have no jobs lined up – implies they may be ready to strike out together in a new venture.

In any case, it will be interesting to see where they surface next and whether they are reunited for a third time.

As for Pep&Co, the company says the search for a new managing director and trading director is ongoing, with announcements expected in the coming weeks.

Will the company be able to attract the very top calibre of people for these roles? I’m not so sure.

My worry for Pep&Co is that Steinhoff’s accounting problems have the potential to act as a deterrent to candidates.

Retailers at the very top of the industry have a finite amount of time to make their money and there must be serious questions about the ability of Pep&Co’s owner to offer the kind of competitive bonuses and share options that senior executives expect.

That said, there will still be talented, up-and-coming retailers who will be hungry to prove themselves in a senior role, in which case the chance to put their mark on a growing business will have its appeal.

Major moves this month