New boss at Stanley Gibbons gets stamp of approval from the City

Stanley Gibbons calls itself the home of stamp collecting

Joanna Hodgson4 June 2018

Investors collected shares in struggling stamp trader Stanley Gibbons on Monday after it tapped up a new chief executive to “rebuild” the firm.

The AIM-listed collectables business named Graham Elliott Shircore as boss, three months after he joined as a non-executive director. He is from Phoenix Asset Management Partners which took a 58% equity stake in Stanley Gibbons this year.

He is the first full-time chief since Mike Hall stepped down in 2016.

Stanley Gibbons has struggled in recent years, hit by a slowdown in the stamps and collectables market and hampered by a string of failed historic purchases.

Chairman Harry Wilson, who has helped to lead the company, said the new boss will steer the firm “in the next phase of its development”.

Elliott Shircore said the company will benefit from a recent simplified structure.

He added: "I am very pleased to be given the opportunity to help rebuild Stanley Gibbons and its exceptional group of brands.”

Shares in Stanley Gibbons rose 0.14p, or more than 3.5%, to 4.19p.