The Arcadia Group has announced that it has appointed Charles Wilson as executive director with effect from January 9, 2001.

Mr Wilson joins the Arcadia Group from the Iceland Group plc where he served as executive director of Iceland Group and managing director of the Booker Cash and Carry business.

Since his appointment yesterday, Wilson has already bought up 330,973 shares in the group worth an average price of 96.7p. A cash bonus received on joining the company provided funding for 226,176 of the shares.

The gross amount of the cash bonus represents the gain Wilson could have realised had he been able to exercise his Iceland Group share options when he agreed to join Arcadia Group.

Under an agreement with the Group, he will retain the shares bought with the cash bonus throughout his employment with the Group unless, under exceptional circumstances, the remuneration committee permits him to sell some or all of the shares.