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Hornby releases management succession plan
Hornby has announced details of a management succession plan following Frank Martin’s announcement that he is to retire as chief executive. To assist in a smooth
transition, the board is pleased that Mr Martin has agreed to stay with the group as deputy chairman, and will retire on or before 30 June 2014. At the same time, chairman Roger Canham will move to an executive role, and will manage the process to appoint a new chief executive, which will begin immediately. Mr Martin has been chief executive since 2001 and has led the transformation from a narrow business focused solely upon the UK, to a much broader group, with a wider portfolio of brands that are sold across a range of international markets. Roger Canham said: “Management succession is an important priority for
Hornby. We have started the process to identify and select a new chief executive who will lead the next stage of Hornby’s development. I am delighted that Frank is staying with the group during this transition, so that we will continue to benefi t from his knowledge and enthusiasm.” Following a review of the wider internal management structure, there will also be a re-structuring of the senior team below the board level. This will create a simpler, more streamlined reporting structure that more closely refl ects the current shape of the business and will take effect immediately. A one-off restructuring charge of around £0.5m will be recorded this year, which is expected to be largely offset by cost savings in the year to 31 March 2014.
K'Nex Brands opens UK offi ce
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Win a Megasaur for your store!
This month, H Grossman is launching a point of sale promotion competition in support of Megasaurs. Any store in the country can win an animated Megasaur which will take centre stage in a high-impact dinosaur display. Martin Grossman, managing director of H Grossman, said: “The animated Megasaurs are so lifelike you will believe they are real. Already on show at Natural History Museums worldwide, these mega models move, roar and actually appear to be breathing; some of them even walk.” To enter the competition and be in with a chance to win a month with one of the massive dinosaurs, all a retailer has to do is place an order for Megasaurs. Every month, the winner will be able to choose which of the two animated Megasaurs they would like to have as an attraction in-store. Using the Megasaurs, retailers can create their own exhibit using either the
three-metre T-Rex, or the Raptor hatching from its egg. Independent retailer Bentalls purchased its own animated Megasaur, and created a themed area around it. To enter the competition draw and be able to turn your store into a dinosaur’s den, simply place your order for Megasaurs with H Grossman. To contact the company, call 01416 132 525.
K’Nex Brands has announced it will be opening a UK offi ce, to coincide with the 20th anniversary of shipping products into the UK. Likely to be located in London, K’Nex UK will open its doors January 1, 2014. Tomy UK, the current
distributor of K’Nex in the UK, will continue to offer service through to the end of 2013. Michael Araten, president and CEO of K'Nex Brands, said: "Over the past several years, K’Nex has grown
by leaps and bounds in the United States. In addition to popular core K’Nex product, we have introduced many successful licences that are popular worldwide. As we monitored activity in our international markets, I became increasingly confi dent that the success measures instituted by our outstanding US sales and marketing team could encourage growth in other countries too. We are excited to open our doors, work hand-in-hand with consumers and retailers in the UK, and continue the growth of K’Nex Brands."
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