"" THG is looking for a new director.

THG is looking for a new director.

The organization, formerly The Hut Group, will announce Sue Farr's appointment as its senior independent director on Monday.

As talks regarding a bid to take THG private continue, the senior independent director of the largest tobacco firm in Britain will assume the same position at the online retailer behind Cult Beauty.

Sue Farr, a former advertising executive, will join THG's board, and the statement will be made on Monday.

Damian Sanders, who was recently appointed chief financial officer of THG, will be replaced by Ms. Farr, who serves as SID at British American Tobacco and the Lookers network of auto dealerships.

She also holds directorships at several different publicly traded businesses.

Her nomination to the board, the most recent in a string of moves arranged by chairman Charles Allen, will take place as discussions regarding a new effort to return THG to remote control are underway.

THG E- COMMRCE is looking for a new director.
According to city insiders, Apollo Global Management was in extensive discussions regarding a bid for the Manchester-based company that would represent a significant discount to its 500p IPO price in 2020 but at a significant premium to its share price before the approach was publicized.

Next month marks the deadline for Apollo to submit a formal proposal or withdraw from THG.

Matthew Moulding, the company's founder and CEO, would finally end more than 2.5 unhappy years as a listed company if THG were taken private.

Since the company's initial public offering, Mr. Moulding has watched its stock plunge precipitously, and he has accused anonymous hedge funders of conducting an effort to damage it.

He cited the song "Isn't it ironic" by Alanis Morissette last week in a post on the business-networking website LinkedIn, where he launched another rant against the company's treatment.

He wrote, "Recently, negative news against me and THG has dramatically had the opposite effect than intended.

An otherwise typically grossly wrong press article contained a throwaway remark that caused a share price rise and a need to make an announcement, which led to a c.45% increase in the share price on the day. Ouch!"

Hundreds of thousands of people saw Mr. Moulding's statements, which drew numerous responses, many of which were positive and claimed to be from retail THG investors.

One of the founders of the retailer's allies claimed that the video greeting he sent to THG employees at Christmas "highlighted the challenges associated with being listed on the UK stock market."

The company manages a sizable collection of websites and owns names, including the MyProtein nutrition website.

Additionally, it provides a platform for logistics and fulfillment called Ingenuity that collaborates with outside parties.

Once known as The Hut Group, the company has made Mr. Moulding extraordinarily wealthy.

Over the past 18 months, discussions concerning potential THG proposals from various parties have stalled. However, many experts believe that the company's board will soon suggest a sale, either with Apollo or another bidder.

With its shares closing at 89.2p on Friday, THG had a market value of £1.16 billion.

The discussions with Apollo occur during a wave of acquisition proposals for several London-listed companies, including Dechra, Sureserve, and John Wood Group.

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