THG PLC (LSE:THG) named Charles Allen as independent non-executive chair with immediate effect as part of the online retailer's mission to split the roles of chief executive and chair.
Allen takes on the role as concerns over THG's strategy and leadership weigh on the stock.
Following shareholder pressure on founder Matthew Moulding last year to make changes, the new chairman is tasked with refreshing the board and strengthening governance and diversity and "to drive growth and long-term value creation."
The British e-commerce company began an international search for Allen last October, when Japanese investor SoftBank announced it would not exercise its option to buy a 20% stake in THG Ingenuity. Around the same time, Blackrock reportedly sold half its shares in THG.
Moulding will continue to serve as chief executive.
Allen's expertise spans retail, media, technology, gaming, food production, and manufacturing. He will also work with Moulding to refine the group's strategy, along with reviewing the independent board.
Allen is currently chair of Balfour Beatty plc (LSE:BBY), the FTSE 250 infrastructure group, and privately-owned Global Media and Entertainment. He was chief executive officer of ITV PLC (LSE:ITV) from its formation in 2004 until 2007.