Finance director follows HMV chief in leaving the firm

By MARTIN FLANAGAN
Published on 06/08/2012 00:00

THE finance director of entertainment retailer HMV is set to follow the firm’s chief executive out of the door in the second abrupt departure within days.

The group is understood to be looking at making an announcement that David Wolffe will leave even before  it is expected to post annual losses of £16 million this Wednesday.

Last Thursday, HMV announced that chief executive Simon Fox was stepping down after six years at the helm of the music and DVDs group.

The firm declined to comment yesterday. However, industry sources said it was regarded as a good time for Wolffe to go, having joined from ITV Studios in January 2011, as much of the company’s restructuring was now done, with deals struck with both its banks and suppliers.

HMV is expected to make a profit of about £10m in 2013.

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Finance director follows HMV chief in leaving the firm

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