Naked Wines chair Walden to step down

Walden, known for the turnaround and sale of Argos when he ran Home Retail Group, departs following a strong trading period for Naked.

He will be succeeded until next year by Ian Harding, Naked’s senior independent director.

Walden said: “It has been a privilege to lead Naked through its transformation to a pureplay online business, its continued growth and recent successful response to the Covid-19 pandemic.

“It was a difficult personal decision to step down at this juncture however, it is the right decision for myself and Naked Wines. I leave the business in a strong position to grow and to realise its promise for an extraordinary future.”

Naked reported that total sales in June climbed 67% year on year, bringing growth in the first quarter to 77%, and said it is “ideally positioned to be a long-term winner from the inflection in consumer demand for online wine as a result of the Covid-19 pandemic”.

Harding added: “I would like to thank John for his guidance and support during his time as chair. He leaves the group with a strong balance sheet, clear focus and strong growth momentum and we wish him well for the future.”