Temple & Webster names co-founder as CEO

Internet Retailing

25th Oct 2016

E-commerce furniture and homewares company Temple & Webster has named interim CEO and co-founder Mark Coulter as its CEO. Mark Tayler, the current interim CFO, has been made CFO. Both appointments are effective immediately.

As Temple & Webster’s original co-founder, Coulter re-joined the company as COO in March 2016 to lead the development of the revised business plan after a full-year profit warning sent shares tumbling. The online retailer went on to post a $44 million loss for 2016, more than double the loss forecast in its prospectus.  At the time, Coulter said job cuts, reduced operational expenses and better marketing would help turn the business around, with the goal of breaking even in 2018.

Coulter’s appointment to CEO this week reflects the retailer’s commitment to this plan, according to chairperson Carol Schwartz: “We are pleased that Mark has accepted the role of CEO, after doing a great job over the last six months in implementing the revised business plan.  Mark’s extensive digital and commercial experience, combined with [his] intimate understanding of the business as one of its founders, strongly positions the company in continuing the implementation of its vision and strategy. It is also great that Mark Tayler has accepted the role of CFO, having done an excellent job as interim CFO.”

Coulter himself described the decision to lead the company for the long haul as an easy one: “I am excited by the opportunity to continue our growth momentum through executing our strategy of delivering beautiful solutions for our customers. Our clear objective is to deliver improved operational and financial performance through leveraging our scale, unique brands and market leading position. Re-joining a company that I love, in a growing and exciting market, with the most passionate and talented team I have ever worked with was not a hard decision.”