Jewellery retail group Aurum Holdings has announced the appointment of a new chairman as it prepares for future growth.
Dennis Millard, who has worked for leading retail companies in the UK and US, will join the group as a non executive chairman on 1 October 2018.
Aurum Holdings chief executive officer, Brian Duffy, comments: “I am delighted that Dennis has agreed to join our Board as Non-Executive Chairman. Dennis’ extensive experience in working with public and private companies during his career will be invaluable as we continue to grow this business. I am also pleased to be changing our company name to Watches of Switzerland Group. Our new name will be a testament to the core strength of our business.”
Over the past 13 years, the Group’s incoming chairman Dennis Millard has built a strong track record as a non-executive Director in both publicly listed and private equity-backed companies, steering businesses through periods of significant growth and helping businesses develop into strong public companies.
Millard is currently the senior independent non-executive director at Superdry Plc and deputy chairman and senior independent non-executive director at Pets at Home Group Plc. The new chairman for Aurum also served full terms as chairman of Halfords Group plc and Connect Group plc (formerly Smiths News PLC) and was non-executive director and senior independent director at Debenhams plc, Premier Farnell plc and Xchanging plc.
“I am pleased to be joining the Board of this exciting and dynamic business,” says Millard. “The Watches of Switzerland Group is focused on the growing global market for luxury watches and has a track record of delivering results through both organic and acquisitive growth. I look forward to working with Brian and his team on the next stage of the Company’s development.”
As the Group changes its name and brings Millard on board, speculation is mounting that Aurum Holdings, which is owned by American private equity firm Apollo Global Management, will go public on the London Stock Exchange in 2019.
As Millard has experience working with publicly listed and private equity-backed retail groups, his appointment strengthens the narrative, but has still yet to be confirmed by the Group.