John Walden appointed chairman of Yo! as Eric Nicoli to step down

Yo! has announced that John Walden has joined the group as its chairman as Eric Nicoli is stepping down to pursue other interests.

Walden's previous roles include advising consumer-facing businesses and private equity investors through Inversion, the US-based, retail-focused management and strategy consultancy he founded 13 years ago, as well as the role of chairman at Naked Wines, where he oversaw the sale of Majestic Wines, and executive chairman at Holland & Barratt following the acquisition by LetterOne.

Nicoli joined Yo! as chairman in 2015 following the acquisition of the company by Mayfair Private Equity.

Richard Hodgson, chief executive officer of the Yo! group, said: "The last 12 months have demonstrated the value in our diversified multi-channel strategy. Against the backdrop of a very difficult year for hospitality businesses across the globe, we have been able to grow thanks to our retail business in North America, which has remained open throughout.

"As we now start to emerge from the pandemic, we see significant opportunities to further progress our multi-channel strategy and I am delighted that John has agreed to join our board as chairman at this time. He brings with him extensive experience from both sides of the Atlantic, which will be invaluable as the group moves to the next phase of growth.

"I want to thank Eric for his role in the transformation of the group over the last six years and wish him all the best with his future projects."

Walden added: "It's very exciting to be joining the group at this stage in its development. Richard and the team have created a food group like no other, and there is still a lot to play for. I am excited about bringing my experience to the board and supporting Richard and the management team as they look to capitalise on this opportunity."