Co-op boss steps down
The Co-op’s Food business boss is to become the new group ceo, following the departure of Richard Pennycook (left).
Steve Murrells (right), who joined the group to lead its food business in 2012, is to join the board on March 1. Pennycook will step down on the same day.
Pennycook took the role of ceo in 2014 following the departure of former boss Euan Sutherland, who was in the role for 10 months.
He will act as an advisor to the group after stepping down as ceo.
Pennycook said: “Leaving the Co-op was always going to be hard, but the time is right. The ceo who is to lead the renewal phase in 2018 has to be the ceo who builds the plan in 2017.
“In passing the baton to Steve, I leave safe in the knowledge that the Co-op will be taken forward by a leader who shares our vision of what can be achieved in the future.”