David Hoare, the former chief executive of Laura Ashley, is to join rental group Thorn as UK chief executive. He replaces David Williams, who left the company last week.
Japanese investment bank Nomura acquired Thorn, which was a public company, for 980m in July. Thorn’s empire includes the high street chain Radio Rentals.
Nomura was attracted to the group because of the strong cash generative nature of the business. The Japanese company has bought its way into Britain’s pubs, betting shops, railway rolling stock and even military homes.
Hoare left the troubled home furnishings and clothing retailer in August after only eleven months in the job.
He was the company’s sixth chief executive since 1990 and was replaced by his deputy, Victoria Egan, after investment company Malaysian United Industries administered a 44m cash injection to rescue the company.
Thorn could be one of the biggest beneficiaries of the launch of digital television and in May it signed up footballer Ryan Giggs to launch its first digital TV campaign.
Hoare, who runs management consultancy Talisman Management, is also a director of Virgin Express and formerly worked at Bain & Co.
In April, Thorn UK appointed three Ogilvy Group companies to work on its 10m above- and below-the-line accounts.