‘Change is always unsettling’: Temple & Webster’s outgoing CEO eyes M&A to revive retailer
Co-founder Mark Coulter is stepping into the role of executive chairman where he will be focused on international expansion and possible acquisitions.
The last six months of Temple & Webster co-founder Mark Coulter’s decade long leadership of the online furniture retailer has been punishing, with the stock down 56% against a flat broader market.
Yet as he prepares to vacate the CEO role, Coulter insists he is “excited” about the future of the business, which will include a deepened focus on international expansion as well as acquisitions in adjacent verticals.
Temple & Webster announced on Thursday that former chief marketing officer and current Genesis Capital managing director Susie Sugden would succeed Coulter as CEO, with the latter moving into an executive chair role from July.
Coulter said he is particularly keen to target areas of “growth beyond the core areas like international, new verticals like home improvement, or new customer segments like business customers”.
