New CEO for Evans Cycles

Nick Wilkinson becomes chief exec; Nick Evans remains chairman of the board
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National cycle retailer Evans Cycles has appointed Nick Wilkinson as CEO with immediate effect.

Nick Evans will remain chairman of the board and will step back from the executive responsibilities he has fulfilled over the last three years since April 2008. Mike Rice will take responsibility for product and supply chain activities in the business.

Wilkinson started his career at Unilever and has since worked at McKinsey and Co for five years before moving on to become MD of The Link. Subsequently Wilkinson has occupied senior positions with at Dixons Store Group, including group MD of ecommerce and emerging markets at Curry and Dixons. In 2006 he became CEO of Maxeda CIY, part of the retail group once known as Vendex that was then bought by KKR. While there Wilkinson modernised and drove the operating performance of the successful DIY retailer.

Chairman Nick Evans commented: “We are delighted to have Nick Wilkinson join us as chief executive and as a shareholder. During his 12 years in retail he has demonstrated a strong track record of success, in both growth and established enterprises in the UK and internationally and he is a good fit for our business. He is a keen cyclist. Nick’s focus is on customers and people – building and developing impressive teams and driving profit growth at both Dixons Stores Group and Maxeda more recently.

"Nick’s experience across the channels matches the needs and objectives of the business well, as we continue our rapid multi-channel growth. Nick joins the current executive management team comprising Mike Rice and Andy Hall – affording us a powerful mix of management experience, execution skills, category and channel knowledge”.

Wilkinson added: “I am delighted to be able to join such a dynamic team and company. The recent progress of the business and the management of explosive growth has been impressive. I am very excited to be able to lead the company to the next level of its development – working with colleagues at Evans Cycles to create a best in class multi-channel retailer, focused on serving customers, developing our teams and leading the cycling market in the UK and perhaps beyond."

Since Evans acquisition by Active Private Equity in 2008, Evans Cycles has grown from 31 to 42 stores and has run rate sales in excess of £100m, more than doubling in size. The firm brought in a new ERP solution in 2010 to allow Evans to grow its online and multi channel operations, whcih currently represent 30 per cent of sales. Evans recently made fourth in the Fast Track 100 of the UK's fastest growing buy outs.

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