Mail-order company, Great Universal Stores Plc, Manchester, England, has promoted John Peace to CEO, splitting day-to-day management of the business from the chairmanship.
Peace, 50, will take the post in January after heading Experian, the company’s credit-checking and consumer demographics unit. Lord Wolfson of Sunningdale, 64, now serves as the company’s executive chairman.
The appointment comes as Britain’s home-shopping market stagnates and the company struggles to boost its share price from near a six-year low.
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