Temple & Webster Group Ltd Announces Management Changes
October 27, 2022 at 06:14 pm EDT
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Temple & Webster Group Ltd. announced that Non-Executive Director & Chair of the Audit and Risk Committee, Ms. Susan Thomas, has advised the
Board of her intention to retire as a Director of the Company. As a result, Sue will not stand for re-
election at the forthcoming AGM and will retire at the conclusion of the AGM on November 30,
2022.
Since joining the Board in early 2016, Sue has been an outstanding contributor to the Company and
her leadership qualities and contribution in the fields of Finance, Audit and Risk have been highly
valued and Co-founder and Non-Executive Director Conrad Yiu has been appointed to the newly created role of
Deputy Chair of the Board. As an original co-founder of the business, Conrad brings a wealth of
knowledge, expertise and commitment to the Company. As Deputy Chair, Conrad will assist the
Chairman with investor relations, work with management to assess inorganic growth opportunities,
and chair board committees on an interim basis as needed. Conrad will be acting as interim Chair of the Audit and Risk Committee following Ms. Thomas'
resignation until a new director is appointed. The Board is actively recruiting two directors to join the Board, including a replacement for Ms.
Thomas as the Chair of the Audit & Risk Committee.
Temple & Webster Group Ltd is an Australia-based pure play online retailer of furniture and homewares. The Company has over 200,000 products on sale from hundreds of suppliers. The Company runs a drop-shipping model whereby products are sent directly to customers by suppliers, enabling faster delivery times and reducing the need to hold inventory, allowing for a larger product range. The drop ship range is complemented by a private label range which is sourced directly by the Company from overseas suppliers. It operates in one segment being the sale of furniture, homewares, and home improvement products through its online platforms. Its Trade & Commercial division services the business to business (B2B) market, offering exclusive product ranges, procurement, styling, specialized delivery and installation services through a dedicated support team. It also offers a range of home improvement products that customers need to renovate and redecorate their homes.