Let’s go: AO World’s chief executive departs with founder returning to the role
Electrical retailer AO World said today that its chief executive Steve Caunce is stepping down as chief executive and from the board with immediate effect.
He is being replaced by the company’s founder John Roberts who was chief executive until February 2017 when he was replaced by Caunce.
The company said that Caunce had “decided to step back to a less demanding business role and re-balance his lifestyle”, and said that he will remain with the business in a part-time role as an adviser to the chief executive and the board.
Roberts, who stepped down in 2017 to focus on innovation and development projects, now has a “renewed energy to focus on the business he created and to lead AO on the continued execution of its strategy”, the company said.
Roberts said: "AO's future is incredibly bright given our depth of talent at all levels of the business. I am fully committed to the business and the execution of our focussed strategy and can't wait to get stuck in again as CEO as we move onto the next exciting stage of the AO story."
AO reported a first-half loss in November and slower sales growth after being hit by the UK's consumer spending slowdown.