The apparel chain filed for bankruptcy in January and closed its e-commerce site and stores.
Carl Clump becomes group chairman and Paul Stanley is appointed CEO.
London, 10th August, 2011 – Retail Decisions (ReD), a world-leader in payment fraud prevention and payment processing, has announced changes to its Board which will see Carl Clump become Group Chairman and Paul Stanley appointed Chief Executive Officer.
Paul Stanley joins as CEO from 1st August. Paul joins from First Data International, where he last served as Managing Director and Senior Vice President of its financial services business for the European, Middle Eastern, African and Asian regions. Prior to that, Paul was a director at LINK Interchange Network Ltd, and CEO of Moneybox Plc.
Paul brings to ReD a long-standing track record as an executive and entrepreneur in payments businesses globally. His international experience will be valuable in leading ReD to its next phase of international growth.
“Paul Stanley, CEO said I am very excited to be joining the ReD team at this key point in the development of the business. Risk management, security and fraud protection in payments are significant growth areas in the industry and ReD has developed unique intellectual property and a strong team to address this market. I am grateful to Carl for his outstanding leadership of the business over the last 11 years, and look forward to working with the team to deliver further growth and success.”
After over eleven years as CEO, guiding ReD through a period of sustained growth internationally, Carl Clump takes on the role of Group Chairman. Amongst Carl’s responsibilities will be further developing the Asia Pacific market.
Carl Clump, Group Chairman of ReD, said: “Year on year since 2000, ReD has seen astounding growth of 18% compound growth in revenues and a 39% compound increase in operating profit, prior to the company refocusing on its fraud prevention business. It’s a credit to all our staff over the years, and I would like to thank them all very publicly. ReD has transformed from being a card present UK centric fraud prevention provider to a global leader in e-commerce fraud prevention and payment processing, serving many of the world’s largest multi-national blue chip brands. It has been an honour to serve as CEO and I look forward to my new role as Group Chairman and wish Paul Stanley every success for the future.”
Retail Decisions (ReD) is a world leader in payment fraud prevention and payment processing. A specialist supplier to the payments industry worldwide, ReD has over 21 years experience in the fraud prevention market. Its blue-chip international clients come from the global telecommunications, retail, travel, petroleum, banking and the broader e-commerce sectors. They include Air China, Comet, John Lewis, Shell, Tesco Mobile, Chevron, T-Mobile, Virgin Mobile and Walmart. The company has offices in Australia, China, South Africa, United Kingdom and United States, with representation in India, Korea, Japan and South America.
About Carl Clump
Carl Clump was appointed Group Chairman of Retail Decisions in August 2011, the company he had founded in 2000. Previously, Carl spent 13 years with Texaco where he held roles such as European Marketing Co-ordinator; Manager, UK Marketing and Planning Division; and President Directeur Général of TEPAR a consortium of European card issuing companies. He then became Group Managing Director of The Harpur Group Limited - an international processor and issuer of corporate cards. He led the management buyout of Retail Decisions plc which was effected in December 2006 by Palamon Capital Partners for £186 million pounds.
Carl has an MBA from the Cranfield School of Management.
About Paul Stanley
Paul has more than 20 years experience of the payments industry, having previously worked for HSBC, LINK Interchange Network Ltd, NCR Corporation and First Data.
At First Data, Paul was the Senior Vice President and Managing Director of First Data’s international financial services business for the Europe, Middle East, Africa and Asian regions.
Prior to First Data, Paul was founder and CEO of Moneybox plc, which deployed a network of convenience ATMs across Europe, developed stored value card solutions for the workplace and provided outsourcing services to banks and retailers. In March 2004,
Moneybox was floated on London’s AIM market.
Paul has also provided consultancy services to financial institutions, payments businesses, venture capitalists, government agencies and charities throughout the world.