Manchester-based online holiday retailer On the Beach Group plc (OTB) said THG executive Jon Wormald will join the firm on June 30 as group chief financial officer (CFO), at which point the group’s previously announced CEO succession plan will be enacted.
On the same date, Shaun Morton, the group’s current CFO, will replace Simon Cooper as CEO and Cooper will transition to his new role of “Founder Director NED.”
Wormald joins On the Beach from THG plc, the Manchester-based global e-commerce technology group and brand owner, where he is currently CFO of THG Nutrition, the world’s largest online sports nutrition brand.
“At THG Nutrition, Jon has been responsible for the financial performance of the division alongside responsibility for the vertically integrated manufacturing businesses,” said On The Beach.
“Jon joined THG in 2021 as deputy group chief financial officer to deliver the successful reorganisation of the group, designed to maximise strategic optionality, which was completed ahead of market expectations.
“Prior to THG, Jon spent 11 years at the Co-operative Group Limited, holding a number of senior roles including director of M&A, programme director and leading the group’s finance department.”
On the Beach chair Richard Pennycook said: “The board and I are delighted to welcome Jon as our incoming Group CFO. Having worked closely with Jon in a previous role, I know he is a talented individual whose extensive experience in both online and consumer-facing businesses are well suited to the Company and we look forward to working with him.”
CEO designate Shaun Morton said: “Jon’s senior financial and operational roles will be invaluable to us at On the Beach as we continue to strengthen the brand and bring our leading customer proposition to a broader audience of beach holiday makers. I look forward to working closely with Jon as I step into the role of CEO and am also pleased to continue working with Simon in his new Founder Director role.”
Wormald said: “I am thrilled to be joining On the Beach as Group CFO, working with such a talented team in an exciting sector. The business is recognised for its customer-first mentality and has a clear strategy for future growth, and I am looking forward to contributing to its ongoing success.”