BREAKING NEWS: Guess who's just been appointed the new CEO at Hornby? None other than Lyndon Davis, Chairman of Oxford Diecast! I've just received the following press release: "Hornby Plc, the international models and collectibles group, today announces Lyndon Charles Davies, aged 56, has agreed to join the Group as CEO. Mr Davies is Chairman of Oxford Diecast (“Oxford”), a business founded in 1993. He remains the majority shareholder of LCD Enterprises Limited (“LCD”), the ultimate owner of the Oxford Diecast brands. A highly-experienced model and hobby professional with 40 years’ experience in the industry, Lyndon has built Oxford Diecast into a successful international business over the past two decades focused on diecast vehicles, aircraft and, more recently, rail based products. "Hornby is exploring the opportunity to invest in LCD. Further information will be released in due course. "As a result of this appointment, Steve Cooke, the current CEO, will step down from the board with immediate effect. "Lyndon will be appointed to the Board following satisfactory completion of the customary due diligence for listed company board appointments. A confirmation announcement will be made on this shortly. ""Lyndon Davies will appoint Tim Mulhall and Simon Kohler as operational consultants who will report directly to him and the Board. "Tim Mulhall specialises in building routes to market and strategic sales development. Tim has also spent 20 years as a business entrepreneur in the model and hobby industry, five of which working directly with Hornby through OnTracks, a business which managed the distribution of Hornby international products. "Simon Kohler is a highly-respected industry veteran in the model and hobby industry, having spent 35 years with Hornby. During a long career at the Group, Simon worked in many roles, covering most of the brands; notably he worked with Hornby Rail and Scalextric during their most successful years. "These appointments are part of a strategy to complement the Group’s existing management with additional highly experienced model and hobby expertise. "Commenting on the appointment, David Adams, interim Chairman, said “I am delighted to welcome Lyndon to the board. His obvious expertise in and enthusiasm for the toy and hobby industry will provide the Group with experienced leadership for the next stage of our development. Hornby will continue with its Turnaround Plan and Lyndon is ideally qualified to steer the Group through this period." I've also received the following email directly from Lyndon: "You will have seen the recent announcement this morning on the LSE. "LCD and its operating companies in China and North America owned and controlled by myself continue to run as an independent group of companies – so things continue as normal on the Oxford front. "As many of you know Oxford is a family company, in recent years Eloise my daughter has played a big role in the running of the company, having herself been introduced to manufacturing at the age of two, on the production lines of the Swansea factory. Earlier this year she stepped up to roll of Managing Director and continues to expand and promote the Oxford brand under my guidance." I'm sure you'll want to join me in congratulating Lyndon and wishing him, his fantastic team, and both the Hornby and LCD Groups, every success for the future.
He's got a job on his hands. It'll take years for him to make a difference as they will gave previous commitments that they will have to see through prior to any strategic change in direction with regards to model production and releases etc. Won't make any difference to me but good luck to him. Toto
One thing he has up his sleeve is the 'know how' on making models cheaper than Hornby and Bachmann. Must admit since Oxford came into railway modelling they have produced some very nice models at a good price. Cheers, Gary.
