Cinven news

All Group media enquiries should be directed to
Vanessa Maydon, Corporate Affairs Director.

Cinven Partners LLP
Warwick Court
Paternoster Square
London EC4M 7AG

Tel: +44 (0)20 7661 3325
Mob: +44 (0)7802 961 902
Email: Vanessa Maydon

Press releases

28 March 2013

Management Changes

Maxeda DIY Group is a strong retailer with four customer focused formats and a clear strategy to improve our business. ‘We have made considerable progress in upgrading our customer offer and improving our efficiency over the last few years. However, despite our resilient results, we do face a New Reality. Consumer confidence is low in both Belgium and the Netherlands and DIY markets are under pressure. It is therefore time to simplify our structures, shorten decision making, lower our cost and improve the execution of our plans. With these goals in mind we are making some important organisational changes,’ says Tony DeNunzio.

Tony DeNunzio will become Executive Chairman
Tony DeNunzio will become Executive Chairman.He has been involved in the Maxeda business for 8 years. He started when the group was struggling and he set a new strategy and delivered significantly improved results at many Maxeda companies. He will now spend more time with the Maxeda DIY Group business.

John Colley is appointed CEO Praxis

John Colley will become the permanent CEO of Praxis. ‘He has spent the last few years as Chief Commercial Officer of Maxeda DIY Group driving our supplier and range review programs with considerable success. John created an organisation that has stepped changed our far east sourcing and our new product development. John is one of the strongest commercial people in the business and has a passion for success. He will bring real energy and focus to driving the Praxis business,’ says Tony DeNunzio.

George Adams will become a Strategic Advisor.‘George as Group CEO has added significant value to Maxeda DIY Group through new strategies, new people and excellent DIY expertise.With the simplification of the central structures and the integration into the formats,George's central role will be reduced. George will therefore become a strategic advisor to the group and will no longer be the Group CEO. I want to thank George for his contribution to the company and am glad we still benefit from his expertise the upcoming period’, says Tony DeNunzio.