26 June 2020

The chief executive of high street gift card retailer Card Factory is set to step down at the end of the month.

Karen Hubbard has held the role for four years, supporting its transition from a recently listed company to an established plc.

Prior to joining the Wakefield-headquartered company, chief operating officer at B&M European Value Retail, and previously held a number of senior roles at Asda and in BP's retail operations.

Card Factory said it was "an appropriate time to transition to new leadership" to support the next phase of the group's return to growth.

Hubbard will step down as chief executive and from the board at the end of June, with chairman Paul Moody taking on the role of executive chairman until a successor is found.

Moody: "The board would like to thank Karen for her important contribution to the company, made with passion and commitment, over the last four years.

"The group has a strong customer proposition, the correct strategy for the next phase of development and a highly capable leadership team to deliver it.

"I will provide interim executive leadership, supported by Kris Lee and the executive team whilst we recruit Karen's replacement."

Hubbard added: "I am incredibly proud to have led Card Factory over the past four years and to work with the exceptionally talented people that make Card Factory the great company that it is.

"Together we have undertaken a significant transformation across the organisation to support its future success.

"The refreshed strategy will provide a strong foundation for the future. I would like to thank all the colleagues across the business for their support throughout my leadership and wish the company and colleagues every success in the future."