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THG founder and CEO Matt Moulding doesn鈥檛 really like the media.

I contacted him in February requesting an interview and he politely rebuffed me.

鈥淚鈥檝e lost all faith in UK press in recent years,鈥� was the gist of his reply.

THG has had a media kicking since its much-publicised IPO in 2020.

Some of the criticism has been fair. THG was valued at 拢5.4 billion when it floated on the London Stock Exchange four years ago while today its market cap stands at a little under 拢900 million.

Investors didn鈥檛 like the fact that the founder operated as both CEO and executive chair or that he had a 鈥榞olden share鈥� 鈥� something which he remedied by giving it up in June 2023.

However a lot of the media attention has been unfair and personal, which is why he routinely turns down requests for media interviews.

鈥淚 avoid interviews like I avoid a dance floor,鈥� . 鈥淚t鈥檚 weird as years ago I’d have thrown myself fully into both at a moment鈥檚 notice.

鈥淧eople often tell me I’m frank and direct, lacking any real filter. On the plus side, at least this saves all the nonsense of reading between the lines.

鈥淏ut I’ve also learned this isn鈥檛 a great trait for interviews. And so, I now rarely ever speak to any media for risk of being sensationalised, taken out of context or downright manipulated.鈥�

Moulding took to LinkedIn to explain his surprise decision to give an interview to The Times.

鈥淎fter a big debate with those close to me, we agreed to do an interview with The Times for a lifestyle piece in the weekend magazine,鈥� he said.

鈥淚 know it sounds bizarre given the appalling treatment we鈥檝e always received from The Times, but I was assured this was a different team, in no way connected to the 鈥榖usiness鈥� folk, and so it would be fair and balanced.

鈥淭his is the first time a journalist has been to THG鈥檚 Manchester tech campus since we opened it three years ago.

鈥淥ver a two-and-a-half hour chat, I answered a barrage of questions in the straightforward manner I鈥檇 approach any conversation.鈥�

However anyone worried that the straight-talking Moulding would give an anodyne interview needn鈥檛 have worried.

Instead he took the opportunity to reignite the row with activist investor Kelso Group Holdings 鈥� although it鈥檚 debatable the flames of their deep-seated antipathy聽towards each other ever went out!

At this point it鈥檚 worth explaining that Kelso, which is made up of almost two dozen high net-worth figures and is led by former Zeus Capital CEO John Goold, has been heavily critical of THG鈥檚 leadership.

THG operates three distinct businesses in THG Beauty, THG Nutrition and THG Ingenuity and Kelso wants the business broken up.

Moulding鈥檚 response has been to buy a significant shareholding in Kelso – but it鈥檚 his choice of just 10 words in response to the journalist鈥檚 question about calls from activist investors to sell off the nutrition arm of the business that has lit the touch paper.

鈥淢y dogs have got more shares and you鈥檝e met them,鈥� he said.

After ebullient debut, what lessons can Raspberry Pi take from 鈥榳orst IPO in history鈥�?

The response from Kelso was immediate and predictable,

After highlighting the 10 words in question the statement read: 鈥淎ssuming Kelso is the activist being referred to, we have always stated THG should look to demerge the three businesses and sell off majority or minority portions of each ideally to strategic investors.

鈥淭he board of Kelso has concluded change is needed at THG and will be voting against the chairman (Charles Allen) at the upcoming THG AGM on 24th June 2024.”

So how did Moulding respond to the dialling up of the rhetoric ahead of the important vote?聽 A dose of mea culpa perhaps to take the heat out of the situation?

Of course not. He posted several photos of him with his聽 dogs on LinkedIn with the message 鈥榤y dogs have apparently caught the media interest 鈥� hence the pics 馃榿鈥�.

Moulding is the same age as me (52) and if the episode proves nothing else, it鈥檚 that there鈥檚 life in the old dog yet!

How are Manchester鈥檚 on-fire tech firms 鈥榚ngineering for growth鈥�?