Clinton Cards no longer a family affair
It looks like Clinton cards is going to get an outsider in as managing director after decades of being run by the Lewin family. Of course, this is all because the Lewin family haven't been particularly good at making money these days.
Business is bad so founder and chairman Don Lewin is looking to appoint someone else so he can bugger off and have a nice retirement. Don's son, Clinton Lewin (who the company is named after, obviously), is all set to step up to a new role as chairman and it is he who will presumably oversee the management restructure as Clinton tries to get back in competition with supermarkets and online businesses like Moonpig.
Clinton has already issued a profit warning in January and put Birthdays into administration.
Retail Week Knowledge Bank director Robert Clark said: “It is a key moment in the evolution and development of the business. There comes a time, particularly in a quoted company, when it becomes appropriate for an organisation that is family dominated to look outside,” he said.
Hold off the Deathwatch calls for the time being.