Hornby chief departs
Frank Martin, chief executive of toy train firm Hornby, announced he was pulling into the sidings yesterday as he stepped down from the role after 12 years.
It is understood Martin felt the time was right to leave after so many years in charge but remains as deputy chairman until he retires next June. Chairman Roger Canham will move to an executive role while the hunt is on for a successor.
Hornby has faced significant global challenges over the past few years but we have laid the foundations to improve the performance
It is believed Hornby, which has been hit by the downturn and supply problems in China, is searching for a new boss with an understanding of changing consumer habits and the supply chain.
The move came as Hornby said trading was in line with expectations helped by using more reliable suppliers and new products including its Pocher model car range which boasts classic Italian names such as Lamborghini.
It hopes its new Quick Build range, which allows customers to build Airfix planes without using glue or paint, will help grow demand when launched later this year.
“Hornby has faced significant global challenges over the past few years but we have laid the foundations to improve the performance,” Martin said.
