PracticeConsultingKPMG manager made FD at TJ Hughes

KPMG manager made FD at TJ Hughes

Discount retailer TJ Hughes has appointed KPMG senior manager Andrew Goody as its FD in a bid to put its recent problems behind it.

According to the company, the ACCA-qualified accountant was chosen for his significant expertise in advising clients on acquisitions, disposals and fund raising. The apointment takes effect as of 30 June.

Chairman David Winterbottom, said Goody would bring breadth and depth of experience to the company, both in retail and wider industry. ‘He will be an important member of our management team responsible for driving forward the company’s future performance,’ he said.

Goody has been interim finance director since 9 March 2001 when Anthony Potter resigned following an overstatement in the valuation of stock, which KPMG was brought in to investigate.

The company discovered the discrepancy when a new management control system was commissioned for the internal year-end review. As a result, TJ Hughes incurred an additional charge about £3m against its annual results to January 2001.

Links

PwC faces TJ Hughes audit doubt

FD quits over stock valuation errors

TJ Hughes

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