Halfords Group PLC: Directorate change

DJ Halfords Group PLC: Directorate change

Halfords Group PLC (HFD) 
Halfords Group PLC: Directorate change 
15-Apr-2025 / 07:00 GMT/BST 
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THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/ 
2014 WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR"). UPON THE 
PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION WILL BE CONSIDERED TO BE 
IN THE PUBLIC DOMAIN. 
 
15 April 2025 
Halfords Group plc 
Directorate change 
 
Appointment of Henry Birch as CEO as Graham Stapleton leaves Halfords after seven years 
 
Halfords, the UK's leading provider of motoring and cycling products and services, announces that Graham Stapleton is 
stepping down as a Director today and the appointment of Henry Birch as his replacement as Group Chief Executive 
Officer. 
Graham has led Halfords for over seven years and has successfully driven the business's strategic change from a cycling 
and motoring retailer to a leading omnichannel retail and services business. During his tenure annual revenues have 
grown from GBP1.1bn to GBP1.7bn with more than half of Group sales now service-related (FY19: 24%). Enabled by a strong 
balance sheet, further opportunities remain to develop Halfords Motoring Club, which has more than 5m members, and the 
Fusion programme, optimising the motoring services offer. 
Henry Birch is the former Chief Executive of the Very Group, the multi-category retailer, and was previously CEO of 
Rank Group Plc and William Hill online. He has considerable consumer and retail experience both online and multi-site 
with a strong record of growth and transformation across different sectors and in leading successful teams. Reflecting 
Henry's availability, he will join the Board as Group Chief Executive Officer immediately. 
Today we have also issued a 52-week trading statement detailing our performance in FY25 and outlook for FY26. These 
demonstrate both the progress being made in the business and the further optimisation required for success in the 
difficult macroeconomic environment of today. 
Graham Stapleton said: 
"Following a performance to be proud of in FY25 and after seven years leading the transformation of Halfords from a 
cycling and motoring retailer to an omnichannel motoring services super-specialist, it is time for me to hand over the 
reins for the next phase of the business's evolution. I wish Henry and the team all the best." 
Keith Williams, Chair, said: 
"Graham has transformed the Halfords business to make it fit for the future, leading it through a challenging period 
including the Covid pandemic and a global macroeconomic slowdown. On behalf of the Board I would like to thank him for 
his dedication and commitment to the business throughout his tenure. 
The Board is also very pleased to be welcoming Henry to Halfords. We are very confident that he has the skills and 
experience to take the business forward in the next phase of its long history." 
Henry Birch said: 
"I am delighted to be joining Halfords and am excited for the journey ahead. While the current challenging consumer and 
economic outlook appears unlikely to subside in the short-term, Graham is leaving behind a business that is 
well-positioned for success in the years ahead and I look forward to building on these strong foundations to generate 
long-term value for all our stakeholders." 
 
The person responsible for releasing this announcement is Tim O'Gorman, Company Secretary. 
 
Notes 
Trading Update 
As noted above today we have issued a trading update for the 52 weeks ended 28 March 2025 ('FY25'), which indicates an 
underlying profit before tax around the upper end of the GBP32m to GBP37m range communicated in January. This statement 
also contains information on the outlook for FY26. 
Remuneration 
Details of Henry Birch's remuneration as Group Chief Executive will be set out as required in the 2026 Annual Report 
and Accounts. His remuneration will be in line with the Company's approved Directors' Remuneration Policy, and the 
main elements will be: 
On taking up the position of Group Chief Executive as of 15 April 2025, Henry's basic annual salary will be GBP650,000. 
He will be eligible for pension contributions of 3% in-line with the wider workforce. 
He will have the opportunity to earn a maximum of 150% of his basic annual salary in annual bonus with one-third 
deferred into shares for three years. He will have a maximum opportunity of 200% of his basic annual salary in 
performance-related long term incentive shares. 
There is no buyout of any remuneration or incentives relating to Henry's previous roles. 
Henry is also a non-executive Director at Vue Entertainment International Limited which is an unquoted private company. 
Halfords has a policy which allows the Executive Directors to accept directorships of other quoted and unquoted 
companies and to retain the fees paid. In accordance with the UK Corporate Governance Code, and to ensure sufficient 
time is devoted to their executive role, no Executive Director would be permitted to take on more than one 
non-executive directorship in a quoted company or the chairmanship of such a company. 
A statement concerning particulars of payments to Graham in accordance with section 430(2B) of the Companies Act 2006 
will be published in due course. In summary, Graham will receive remuneration in-line with his contractual entitlements 
which includes payment in lieu of his six months' notice, starting at the date of this announcement (15th April 2025). 
He will be treated as a good leaver under Halfords' share plans and will remain eligible to receive an annual bonus in 
respect of the 2025 financial year, subject to satisfaction of applicable performance conditions, and an annual bonus 
in respect of the 2026 financial year, subject to satisfaction of applicable performance conditions and pro-rated to 
today's date. 
There are no further disclosures required for the purposes of UKLR 6.4.6R and UKLR 6.4.8R. 
 
For further information: 
 
Investors 
Holly Cassell, Director of Investor Relations & ESG      [e-mail] 
Media 
Rob Greening / Jane Glover, Sodali & Co.   [e-mail] 
Notes to Editors 
 
www.halfords.com       www.avayler.com     www.tredz.co.uk    www.halfordscompany.com 
 
 
Halfords is the UK's leading provider of motoring and cycling services and products. Customers shop at 373 Halfords 
stores, two Performance Cycling stores (trading as Tredz), 542 garages (trading as Halfords Autocentres, McConechy's, 
Universal, National Tyres and Lodge Tyre) and have access to 280 mobile service vans (trading as Halfords Mobile Expert 
and National) and 504 commercial vans. Customers can also shop at halfords.com and tredz.co.uk for pick up at their 
local store or direct home delivery, as well as booking garage services online at halfords.com. Through its subsidiary 
Avayler, Halfords also sells the Group's bespoke, internally developed software as a SaaS solution to major clients in 
the US, Europe and Australia. 
 
Cautionary statement 
 
This report contains certain forward-looking statements with respect to the financial condition, results of operations, 
and businesses of Halfords Group plc. These statements and forecasts involve risk, uncertainty and assumptions because 
they relate to events and depend upon circumstances that will occur in the future. There are a number of factors that 
could cause actual results or developments to differ materially from those expressed or implied by these 
forward-looking statements. These forward-looking statements are made only as at the date of this announcement. Nothing 
in this announcement should be construed as a profit forecast. Except as required by law, Halfords Group plc has no 
obligation to update the forward-looking statements or to correct any inaccuracies therein. 
 
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The issuer is solely responsible for the content of this announcement. 
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ISIN:      GB00B012TP20 
Category Code: BOA 
TIDM:      HFD 
LEI Code:    54930086FKBWWJIOBI79 
OAM Categories: 2.2. Inside information 
Sequence No.:  382742 
EQS News ID:  2117722 
 
End of Announcement EQS News Service 
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April 15, 2025 02:00 ET (06:00 GMT)