Reading: Tech group Bullitt appoints new CEO
Bullitt Group, one of the UK’s fastest-growing and largest privately-owned technology companies, has appointed Peter Stephens as CEO with effect from January 1, 2016.
Stephens will replace the three co-CEOs: Richard Wharton, Colin Batt (founder CEO who has attended The Business Magazine’s latest Southern Entrepreneurs and Thames Valley 250 dinners) and Dave Floyd, who all continue as directors on the board with a remit to realise strategic opportunities in adjacent sectors, while supporting the overall Group’s development and growth.
Stephens joins from Virgin Group where he is currently a partner in the investment team; heading the telecoms and media investments and strategy for the Group; and serving on several Virgin company boards.
Wharton commented: “One of the most gratifying experiences of building our company has been the number of fantastic people we have been able to attract. Our business, the Bullitt people, the Bullitt culture and the value we continue to generate enables us to attract the very best. Peter is a great example of this and we know that he will continue to grow the business globally and help us be more consumer focused in our product development while enhancing the brand capabilities of the Group.
"Peter’s professional background, his network and the depth of his relationships will help propel Bullitt into new markets, new categories and drive product innovation. Combining all of this with Peter’s financial and brand acumen really places the business in the best possible hands to accelerate what has already been a phenomenal British growth story.”
Commenting on his appointment Stephens said: “Joining Bullitt in this phase of the company’s development is truly exciting. This is a business that has grown from zero to over $100 million in six short years and been profitable throughout. 2016 will see great new products launching and continued expansion into the USA, Europe and further afield.
"Bullitt has stewardship of some of the most recognisable brands in the world including CAT, JCB, Marconi, Ministry of Sound, Ted Baker and Kodak, developing highly-differentiated mobile phone and audio products under those brand licences today. The opportunity for tomorrow is to take these brands further into those existing categories, onwards into wearables and the connected home and add more great new brands as we go.”
Bullitt chairman Keith Pacey added: “Bullitt enters a new phase in the development of this fast moving consumer electronics business with the addition of Peter and under his leadership I am sure we will continue to enhance our track record of working with some of the world’s strongest brands with continued growth throughout 2016.
"Richard, Colin and Dave, who founded the Company and have acted as Co-CEOs, have done an unbelievable job of creating a new company from scratch six years ago turning their ideas and insight into a profitable business with over $100m in revenue, 120 employees, offices in Taipei, New York, Shenzhen and the UK HQ in Reading. The board thanks them for their leadership and management of the company. The three founders will continue on the board which will work closely with Peter to set the right strategy going forward and add value to the group via exciting new initiatives."
