Co-op Group CEO, Steve Murrells, is to step down later this year.
Murrells will step down after this year’s AGM in May, with Group CFO and CEO of Co-op Life Services Shirine Khoury-Haq appointed as Interim Group CEO.
Commenting on his decision, Steve Murrells said: “It is important to put a clear CEO succession plan in place. This is especially the case as we begin the process to appoint a new Chairman. In such circumstances I would either have needed to commit for another five years or step down now to allow a new CEO to become established and allow a smooth transition to occur, ahead of a new Chairman arriving. I have therefore chosen to take that step now.
“I have had 10 wonderful years at the Co-op and am very proud of all that we have achieved and how we’ve shown that a purpose-led organisation, focussed on a strong vision of fairness and values can make such a difference. Thanks to our amazing colleagues, we have been there for millions of members and customers when they have needed us the most.”
Chair of Co-op Allan Leighton praised Murrells for his time at the helm. “Steve’s decision will ensure the transitioning of both Chair and CEO will take place seamlessly,” he said. “Steve has done a tremendous job at the Co-op in his 10 years of tenure and has been at the forefront of our transition. He is a top class leader and person and his legacy in the Co-op is firmly embedded.
“Shirine has excellent leadership skills and a deep level of operational experience, gained globally across a number of sectors. She understands our Co-op and I and the rest of The Board, look forward to working closely with her going forward.”
On her new role, Shirine Khoury-Haq said: “I am proud to be part of a wonderful organisation that contributes so much to our communities and our country. We have lots to do and I am looking forward to working with my 60,000 colleagues, Allan and our Board to continue to make the Co-op a special place to work while providing great products and services to our customers and members.”
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