Derek Lovelock to leave Jack Wills
Jack Wills chairman Derek Lovelock is planning to stand down from his position by the end of 2017 to pursue other interests, the British company announced on Friday. Richard Wyatt will take over as non-executive chairman.
Lovelock was appointed as executive chairman in September 2016 after the brand was acquired by Union Lifestyle Limited. The joint shareholders of this entity became BlueGem Capital Partners LLP, and Jack Wills founder Peter Williams returned to the company as CEO.
The brand’s incoming chairman Richard Wyatt was lead adviser to Peter Williams during the transaction with BlueGem Capital Partners, and is an investor in the Jack Wills Group.
He has over 30 years’ experience in the UK financial industry, most recently as vice-chairman of Rothschild. He founded the investment business Loudwater in 2006 and was chairman of the media group Engine until its sale in 2015. He is also currently chairman of The Trampery, the London-based specialist in co-working spaces.
Commenting on the news, Peter Williams, founder and CEO of Jack Wills said: “Derek joined us as Chairman a year ago to help the business through the first 12 months after the deal with BlueGem.
“During that first year the business has undergone a significant revitalisation and we have hired some very exciting new talent. The business is in increasingly great shape and so, just over a year on, Derek will be stepping down at the end of this year.
Peter Williams thanked Lovelock for his contribution to the business and welcomed Richard Wyatt’s appointment as new non-executive chairman. “I have worked very closely with Richard for some time, including through the transaction with BlueGem, and am very excited that he will be formally joining us as Chairman,” he said.
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