Former International MD of DSG Joins Board

07 Apr Former International MD of DSG Joins Board

ThinkSmart Appoints Former DSG International Managing Director To Board

ThinkSmart Limited (ASX:TSM), a leading international computer and office equipment financing company, has appointed Fernando de Vicente, the former International Managing Director of DSG International PLC, to its board.

DSG is the UK’s largest electrical retailer, and one of the leading electrical retailers in Europe operating the Currys and PC World chains.  Mr de Vicente joins ThinkSmart as a Non-Executive Director.

Mr de Vicente spent nine years at DSG where he most recently held the role of International Managing Director, with responsibility for DSG’s Central & Southern European operations, a A$3 billion business with 350 stores across six countries.

“Fernando has an intimate understanding of our business having worked closely with us for the last five years,” said ThinkSmart Executive Chairman and CEO, Ned Montarello.  “He will clearly add significant value to our business, especially as we enter a new phase of planned growth in Europe with the DSG group.”

In the UK, ThinkSmart is currently planning an entry into the consumer rental finance market with DSG, which it believes could provide it the opportunity to grow its UK market four fold.

Mr de Vicente started his career with DSG as Finance Director for PC City Spain, and became the MD for Spain in 2003.  In 2006 he was promoted to Regional Managing Director for South-East Europe based in Greece, before assuming the role of International Managing Director in 2008.  Last month, Mr de Vicente left DSG to become the Executive Chairman of BodyBell Group, one of Spain’s largest speciality retailers.

Mr de Vicente has a Degree in Economics (International Development) from the University Complutense in Madrid, and an Executive MBA from IESE Business School in Madrid.

There will also be two further movements on ThinkSmart’s board:  ThinkSmart non-executive director, Peter Mansell, has announced his retirement from the board and will not sit for re-election at ThinkSmart’s AGM on 21 May.  Long-term non-executive director, David Griffiths, has been appointed deputy chairman.

“I’d like to thank Peter for his contribution through ThinkSmart’s first 3 years as a public company,” said Mr Montarello.  “Peter’s experience has been invaluable through our transition to public life and he leaves a strong legacy with the board.  I welcome David to the role of Deputy Chairman in this, his tenth year on the Board.”