Blackcircles rolls out Sir Terry 30 | 08 | 2011
SCOTTISH-BASED TYRE GIANT Blackcircles.com has rolled out a new shareholder; former Tesco Chief Executive Sir Terry Leahy will help the Peebles-based online retailer transform the way consumers buy tyres and motoring products.
Sir Terry (pictured) will be using his considerable experience to help fellow Liverpudlian, and the founder of Blackcircles.com, Mike Welch, to accelerate the growth of the business.
Since launching in 2001, Mike (32) has grown Blackcircles.com into the UK’s leading online tyre retailer while also diversifying into additional motoring products such as servicing and MOTs.
Currently on target for £20 million turnover in 2011, the business has already benefited from ad hoc mentoring from Sir Terry, who has been a shareholder in the company for three years.
Despite being in charge of nearly 500,00 staff in 14 counties, delivering profits of £3.4bn and transforming Tesco into the world’s third largest retailer, Sir Terry has shown no interest in taking it easy since retiring in March.
“I enjoy business so there was no question of not being involved in business in some capacity after Tesco," Sir Terry said. "In my role as Chief Executive, my focus was very much on the wider governance activities and so it has been refreshing and exciting getting back to working with young, up-and-coming businesses.
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“We have some excellent business talent in the UK and it gives me enormous satisfaction helping leaders of young businesses reach their full potential as it is these businesses that will ultimately deliver a much needed economic boost to the wider UK economy.
“The culture of online buying is continuing to grow and accelerate, particularly through the emergence of new platforms, and Blackcircles.com is strongly placed in the motoring category to capitalise on the changing face of retail.”
Late last year Blackcircles.com made a significant step in its efforts to change the buying behaviour of UK motorists when it launched Tesco-tyres.com in partnership with the supermarket giant. It followed the culmination of 7 years work from MD Mike Welch.
“I had no involvement in the business that Blackcircles.com won and the credit for that lies firmly with Mike and his team," Sir Terry emphasised.
"In changing buying behaviour there comes a tipping point and I believe Blackcircles.com has now reached that moment through mass market awareness.”
And the addition of Sir Terry into the Blackcircles fold was welcomed by company founder Mike Welch.
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“It speaks volumes about Sir Terry that he is devoting the time to cultivate enterprise when his incredible list of achievements mean he could easily be taking less demanding roles sitting on the boards of large companies," Mike said.
"His passion and energy for business growth remains as strong as ever and his insight is going to be invaluable to Blackcircles.com as we look to accelerate our own growth.
“If I had to pick one person who has inspired me in my business life it would, without a doubt, be Sir Terry for the way he evolved, and in many ways created, the modern retail market.
“Rumours that we brought fellow scouser Sir Terry in to save on translation costs are entirely unfounded!”
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Jim McGill