Lee steps down as DM Midlands ceo
David Lee, ceo of upholstery group DM Midlands, immediate parent of Ashley Manor and Alexander & James, has stepped down from his role.
Lee will remain a director of the group. In September 2016 Thailand Carpet Manufacturing Company paid £26.25m for 75% stake in DM Midlands and invested £8.75m in its new holding company. TCMC also owns Alstons.
‘It is not possible to sum up 25 years in a few words and I don’t intend to try. All I will say is that the long road travelled since starting out as a fresh faced 24 year-old with no track record or experience of running a furniture business, to making our group of companies arguably the biggest in the UK is and always will be, both a tremendous source of pride to me and testament to the hard work and dedication of our team who helped make this dream a reality. The high esteem with which this company is held by our customers, suppliers and peers, tells me that we have done a lot of good things for a long time and hopefully will continue to do so long after I have gone,’ he said.
Mark Smith, the group’s md will run the group. ‘I would like to thank David for an amazing journey. As the business moves into the next chapter, our shared passion and drive will continue with the amazing team we have built over many years. We’ve had an amazing working relationship and I wish David the absolute best for this next life stage in which he can no doubt enjoy the fruits of his labour,’ he said.