The Very Group has appointed YouGov founder and former senior government minister and MP Nadhim Zahawi as its new chair.
Zahawi, who recently said he would stand down as an MP at the next general election, is joining the online retail group, replacing interim chair Aidan Barclay who took the reins in February after Dirk Van den Berghe exited at the end of his contract term.
The Very Group said Zahawi will “work closely with the current directors and management team to achieve continued sales and profit growth, as well as exploring expansion of the business in new areas”.
He will also work with the shareholders on the strategic options for the online retail group and the optimal capital structure to achieve its growth ambitions.
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Zahawi became an MP in 2010 and since then has served as Chancellor of the Duchy of Lancaster, Chancellor of the Exchequer and Secretary of State for Education.
During the Covid-19 pandemic, he was appointed as minister for Covid Vaccine Deployment with responsibility for the rollout of the UK’s vaccine programme.
Barclay said: “With a proven track record in digital growth and innovation, and highly respected in the UK and global markets, he is ideally suited to lead our board as the company enters its next stage of strategic development and growth.”
Zahawi added: “As one of the UK’s largest digital retailers and flexible payments providers, the company has an important role to play in helping families get more out of life.
“With a heritage of over 100 years, Very has an unrivalled knowledge and understanding of its customer, demonstrating resilience even in the face of challenging conditions.
“I am excited about the strategic opportunities for the group and look forward to working alongside the management team as they further develop and grow the business for the future.”
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