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Hancox quits Otto UK

Mike Hancox has resigned as chief executive of Otto UK following a strategic review of the mail order firm by its parent company Otto Group.

Otto Group chief executive Hans Otto Schrader will take responsibility for Otto UK, which includes the Grattan and Freemans catalogues, until a replacement is found.

Hancox, who has been with Otto UK for two and a half years, is expected to remain with the company until the end of August.

It is likely that Otto UK will transfer ownership of Parcelnet, its logistics arm to Hermes Logistics in Germany. The deal means Otto UK is completely focused on its mail order retail operations.

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