Richard (pictured) will take on responsibility for all day-to-day aspects of the business with all key functions reporting in to him. At the same time, current md, Roger Murphy, will become executive chairman, where in addition to his board responsibilities, he will take on responsibility for developing strategic plans focused on the future growth and development of the company.
The organisational changes will allow Richard to focus on delivering company objectives and enable Roger to devote more time to the future strategic growth and direction of Eddingtons.
Roger commented: “We have done a very good job over the last three years in managing the business under the inherent constraints imposed firstly by the Covid pandemic and then the global recession and the ongoing war in Ukraine. However, as we enter 2023 hopefully many of these challenges are further behind than ahead of us, we need to raise our heads from the trenches and focus on expanding our horizon once again.
“We’d be daft not to acknowledge the challenges that still exist but nor should we lose the chance to embrace the many opportunities that undoubtedly exist in equal measure both now and in the future within the housewares industry for a company such as Eddingtons.
“Richard and I have worked extremely well together for the last 10 years and we will both stay very close to the detail in all areas of our business. However, we both understand that the time is absolutely right for a clear division of responsibilities and a recognition that we must evolve the organisation in order to meet the needs of current and future customers.”
Richard furthered: “I am delighted to move forward with this new role and looking forward to implementing our joint business plan. A key element required to deliver is that we formalise our senior management team (SMT) structure.
“We are blessed to have many people in our company with years of knowledge and experience and the plan for the SMT both collectively and individually will be for them to take on additional responsibilities in their areas of expertise which will allow me to focus on managing the overall business and delivering our strategic growth plans.”