Card Factory chairman faces shareholder opposition

The board of Wakefield-based greeting card and gift retailer Card Factory said it will “engage with shareholders” after 24.87% of votes at its AGM opposed the re-election of chairman Paul Moody.

The company said: “The board notes that, although it was approved, Resolution 3 on the reappointment of Paul Moody (Chairman) as a director, received less than 80% support and accordingly we will engage with shareholders to fully understand shareholder concerns, and provide an update on further consultations within six months of today’s AGM in accordance with the UK Corporate Governance Code.”

On April 30, Card Factory reported that its revenue rose 10.3% to £510.9 million in the year to January 31, 2024, and profit before tax rose 25.2% to £65.6 million.