Business

Halfords appoints Honeybee boss as new chief executive

Halfords has secured the services of Dixons Carphone's Honeybee chief executive Graham Stapleton to replace Jill McDonald

RETAILER Halfords has named the head of Dixons Carphone's software business Honeybee as its new chief executive.

Graham Stapleton will start in the post on January 15, succeeding Jill McDonald, who is leaving at the end of this month to lead Marks & Spencer's fashion and homewares arm.

Halfords said its finance chief Jonny Mason will take on the additional role of interim chief executive from September 22 until Mr Stapleton starts.

Following the Halfords announcement, M&S confirmed Ms McDonald will start on October 2.

Dennis Millard, chairman of Halfords, said: "Graham is an outstanding business leader with the retail, digital, services and category credentials that are an ideal fit for his role as chief executive of Halfords.

"We set out our 'Moving up a Gear' strategy just under two years ago and Graham will continue to drive its implementation and pursue our service-led growth strategy."

Before Honeybee, Mr Stapleton was chief executive of Dixons Carphone's Connected World Services Division and also formerly headed up Dixons Carphone's UK & Ireland division for two years.

He was on the board of Dixons Carphone until April this year and played a major role in 2015 in the merger of the Dixons and Carphone Warehouse, having held senior posts at the latter.

He has also previously held roles in B&Q owner Kingfisher and at retailer giant Marks & Spencer, before which he ran his own car detailing and refurbishment business for several years.

Mr Stapleton said: "Halfords is a business with a 125-year heritage and a market-leading brand that strongly resonates with me and the UK public and I am delighted to be joining the company.

"I really look forward to working with my new colleagues to continue to implement the service-led strategy and, over time, identify further growth potential."

He joins Halfords on an annual salary of £535,000, with a pension contribution of more than £80,000 on top, as well as a potential maximum annual bonus worth £802,500 and long-term incentive scheme shares worth a possible £1.07 million if performance targets are met in full by 2020-22.

He has also been granted 185,872 shares and handed a £368,677 cash windfall in lieu of payments he would have been due at Dixons Carphone.

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