Matthew Moulding
Matthew Moulding | |
|---|---|
| Born | Template:Birth year and age Burnley, Lancashire, England |
| Occupation | Businessman |
| Known for | Founder and CEO of THG plc |
| Spouse | Jodie Moulding |
| Children | 4 |
Matthew John Moulding (born February 1972) is a British business leader, recognized as the founder and CEO of THG plc. By May 2022, his net worth was approximated at £700 million, a decrease from £1.4 billion recorded in 2021.
Early life
Originating from Burnley, Lancashire, Moulding attended Ss John Fisher and Thomas More Roman Catholic High School located in Colne. He pursued a degree in industrial economics at the University of Nottingham and later qualified as a chartered accountant. His father worked as a tarmac contractor while his mother was involved in antiques trading.
Career
Prior to establishing The Hut Group, Moulding held the position of CFO within the distribution division of the Caudwell Group, collaborating closely with John Caudwell.
In 2004, together with John Gallemore, he invested £500,000 to start The Hut Group in Manchester, motivated by the cost efficiencies of e-commerce. The company initially retailed CDs and DVDs before expanding into developing white-label online stores for major retailers including Asda, Argos Entertainment, Tesco, and WHSmith.
The introduction of the iPhone in 2007 significantly altered the retail landscape, leading THG to acquire various internet retailers and merge them into its operational framework. Notable acquisitions comprised Zavvi (2009), Lookfantastic (2010), and Myprotein (2011). The group concentrated strategically on beauty and lifestyle segments due to their attractive profit margins and potential for global growth.
On 16 September 2020, THG executed the largest initial public offering on the London Stock Exchange since 2013. The shares appreciated by 25% on their debut day, generating £920 million for the company and £961 million for its shareholders. Moulding himself received one of the most substantial share-based payouts in the UK, valued at over £830 million.
Initially serving as both chairman and CEO, Moulding relinquished the chairman role in March 2022 following governance-related critiques. He appointed Lord Allen as THG’s first independent chairman to enhance relations with investors.
Personal life
Matthew Moulding is married to Jodie Moulding, and they live in Northwich, Cheshire with their four children.
In the 2015 general election, he publicly supported the Conservative Party through a signed letter from business leaders.
In October 2020, he founded The Moulding Foundation and by April 2021 had donated £100 million worth of THG shares to it, demonstrating his philanthropic dedication.
As of May 2022, his net worth is estimated at £700 million, down from £1.4 billion the previous year.