Paul Baxter, TM Retail’s trading director, has resigned from the company “to pursue a number of investment opportunities”.
Baxter joined TM Retail five years ago as marketing director after leaving another c-store chain, Alldays, where he had been commercial director.
The move meant he rejoined his former boss at Alldays, David Saunders, who left Alldays shortly before Baxter and became managing director of TM.
During Baxter’s time at TM it developed a joint c-store package with Somerfield, but the 1,200 store group comprising Martins, Forbuoys and RS McColl fascias has failed to match the
growth of its peers. The venture capital companies which own the majority of TM put it up for sale last year, but while Co-operative Group and Sainsbury have taken a serious look, it has failed to attract a buyer.
Commenting on his decision Baxter said: “It’s been an exciting five years with TM Retail and even though the company has a great future, it’s time for me to go. I have interesting investment opportunities to pursue and it’s time for me to spread my wings.”
“Unfortunately it also means that I will have to resign from my position as chairman of the Association of News Retailers, a role which I have enjoyed immensely over the past year.”
Saunders said: “Paul has made a real impact on our business and helped us achieve our goal of a successful c-store business and we wish him well.”
John Wood
Baxter joined TM Retail five years ago as marketing director after leaving another c-store chain, Alldays, where he had been commercial director.
The move meant he rejoined his former boss at Alldays, David Saunders, who left Alldays shortly before Baxter and became managing director of TM.
During Baxter’s time at TM it developed a joint c-store package with Somerfield, but the 1,200 store group comprising Martins, Forbuoys and RS McColl fascias has failed to match the
growth of its peers. The venture capital companies which own the majority of TM put it up for sale last year, but while Co-operative Group and Sainsbury have taken a serious look, it has failed to attract a buyer.
Commenting on his decision Baxter said: “It’s been an exciting five years with TM Retail and even though the company has a great future, it’s time for me to go. I have interesting investment opportunities to pursue and it’s time for me to spread my wings.”
“Unfortunately it also means that I will have to resign from my position as chairman of the Association of News Retailers, a role which I have enjoyed immensely over the past year.”
Saunders said: “Paul has made a real impact on our business and helped us achieve our goal of a successful c-store business and we wish him well.”
John Wood
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