Dunelm hires retail 'stalwart' Nick Wilkinson as new CEO

Dunelm has appointed former Evans Cycles boss Nick Wilkinson as its new chief executive, the homeware retailer's fourth in as many years.

Wilkinson, who dismounted from private equity-owned cycle retailer Evans last year after a five-year reign ended after a year when profits plunged 69%, will start at Dunelm on 1 February.

He joins a board that gave previous CEO John Browett the heave-ho in August after what was reported to be a clash of personalities, with the departure described by the company as being for "personal reasons" but also as it was felt that "the next phase of growth requires different leadership”.

Chairman Andy Harrison has been running the show in the interim period, with founder's son Will Adderley having been given a turn as interim CEO before Browett's stint in the top seat.

Wilkinson, who will surely as a Cambridge history graduate be well aware of the recent corporate annals, has plenty of boardroom and retail experience, with his Evans stint preceded by three years as CEO of Maxeda DIY, a Belgian and Dutch home improvement retailer, and before that eight years at Dixons Retail, where he was managing director of Currys and group buying director.

Harrison highlighted the new man's "retail skill-set with multi-channel experience across a number of consumer sectors and geographies".

"We are confident that Nick's proven business leadership and track record will help us to deliver our ambitious plans for growth in market share and creation of substantial value for shareholders," he said.

Wilkinson gushed: "Dunelm has so many strengths with an excellent customer offering, great people, trusted brands, a leading market position and numerous opportunities for further growth. I am really looking forward to working with the fantastic team at Dunelm and leading the company into its next exciting chapter."

The City's reaction was mixed, with the shares losing a few pennies in early trading on Thursday.

Independent retail analyst Nick Bubb called Wilkinson a "stalwart" of Dixons and noted that he had run Dixons’ ill-fated mobile phone chain The Link but vouched for his being "bright and amiable".

"We wish him better luck than his predecessors had in dealing with the founding Adderley family."