HMV appoints new bean counter

HMV Group, the music and entertainment retailer which recently announced the departures of its Chief Executive Officer and Finance Director, has poached Ian Kenyon from Best Buy Europe to fill the latter role.

Kenyon will join the company on September 3rd from Carphone Warehouse, where he has been Chief Financial Officer of Best Buy Europe, a joint venture between US electronics retailer Best Buy and UK hand-held devices seller Carphone Warehouse, since 2008.

Before that he was Group Finance Director of Carpetright for three years and prior to that held senior finance roles at J Sainsbury, Kingfisher and St Ives.

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Ian Kenyon succeeds David Wolffe, who will remain in the post until Kenyon arrives to ensure a smooth handover, the firm said.

Wolfe's departure followed hot on the heels of the exit of Simon Fox, who quit on August 2nd as Chief Executive of the debt-laden retailer after six year at the helm. Fox was succeeded by turnaround specialist Trevor Moore, who had previously been boss of Jessop's, the camera shop chain.

The share price fell 7.14% to 3.25p by 10:22. The shares are down over 36% in the past year, and as recently as 2009 were trading above 140p.

NR