Wakefield-based greeting card and gift retailer Card Factory has announced the appointment of Matthias Seeger as its chief financial officer “after an extensive search process.”

Seeger has been CFO of Ambassador Cruise Line Limited since February 2022, having previously been CFO of Costcutter Supermarkets Group from September 2015 to September 2021.

He is expected to join the company on May 22, 2023.

Previous roles throughout his 31 year career include senior finance roles with Procter & Gamble, in Germany, the UK, Belgium and Switzerland, between 1991 and 2013.

“Matthias will receive an annual salary of £345,000, employer pension contributions of 3% of salary above the lower earnings limit (currently £6,240 per annum), subject to making a 5% employee contribution, which is aligned with the pension allowance for the workforce,” said Card Factory.

“Matthias will participate in the annual bonus scheme up to a maximum participation of 100% of salary and will be entitled to restricted share awards under the company’s Long Term Incentive Plan with an annual award of up to a maximum of 75% of salary.

“All other terms are in accordance with the Card Factory Remuneration Policy.”

Card Factory said it has now agreed that Kris Lee will leave the company on January 31, 2023.

“Pending Matthias joining Card Factory, Simon Comer, currently group financial controller, will be appointed as interim chief financial officer, but will not be appointed as a director of the company,” said the firm.

“Simon has been group financial controller since June 2021, having held previous senior finance roles, including CFO roles, in private equity and listed companies.”

Card Factory CEO Darcy Willson-Rymer said: “I am delighted to announce that Matthias is joining Card Factory as our CFO.

“Matthias has extensive financial experience and I look forward to working with him again, confident that his expertise and values will support Card Factory’s strategic projects and significant change programme over the next few years.

“I am grateful to Kris for his tireless work over the years, including successful management of liquidity, steering the business through a series of refinancing through covid lockdowns and supporting our ‘Opening our new future’ growth strategy.

“We offer Kris our very best wishes for the future.”