October 3, 2017 / 10:29 AM / 2 years ago

Model railway sets maker Hornby appoints new CEO

(Reuters) - Hornby Plc (HRN.L) appointed Lyndon Charles Davies as its chief executive, the maker of Thomas & Friends model train sets said on Tuesday.

Steve Cooke, who stepped down as chief executive last month, will quit the board with immediate effect, Hornby said.

Cooke stepped down last month, shortly after the company warned that trading for the financial year to date had been lagging its expectations. Cooke remained as CEO for a transitional period.

Davies is the chairman of Oxford Diecast, a supplier of diecast model vehicles. He is the majority shareholder of LCD Enterprises, Oxford Diecast’s owner.

Hornby said it would explore the opportunity to invest in LCD Enterprises.

Reporting by Noor Zainab Hussain in Bengaluru; Editing by Gopakumar Warrier

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