Paul Weston is stepping down from his role as Chairman of Vivid Toy Group with immediate effect.
Weston will continue to advise Vivid specifically on product and licensing opportunities while launching a new consultancy service for the toy industry, Press Play.
In a toy industry careers spanning 33 years, Weston was one of the original founders of Toys R Us UK prior to joining Vivid and has ultimately led the business for the last ten years.
Vardhan Rajkumar of Privet Capital, the private equity firm which invested in the business in March 2017 will take on the role of Chairman of Vivid.
“I have been so fortunate in my career to have been involved in two majorly successful start up companies, working alongside some of the most talented people in the industry and on some of the biggest and most iconic global toy brands,” said Weston.
“I now feel the time is right to pursue a new direction that will give me greater flexibility in my life, while also presenting a new set of exciting challenges.
“I am also delighted to be continuing my relationship with Vivid and its new investor Privet Capital and look forward to helping them achieve their ambitions of broadening and strengthening the brand portfolio and driving further international expansion.”
Rajkumar, added: “Paul has done a terrific job at Vivid and played a huge role in the company’s success over the past 24 years. We are extremely pleased that Paul will continue to work with the Vivid team as we look to take the company into the next phase of growth.”