The Co-operative Group has confirmed that B&Q chairman Euan Sutherland will replace CEO Peter Marks, who is set to retire in May.
Sutherland is well aware of the Co-operative set up as he currently serves as a non-executive director of The Co-operative Group’s Food Board.
Len Wardle, chair of The Co-operative Group, said he is delighted with the appointment of Sutherland as the new chief executive.
'Euan brings with him considerable experience of the strategic leadership needed in complex customer-facing businesses, across a variety of retail sectors, and we very much look forward to welcoming him and working together,' said Wardle.
The Co-operative recently came last in an FPJ online poll asking which was the most supplier-friendly supermarket, securing only eight per cent of the vote, but Sutherland is embracing the challenge.
He said: “The Co-operative is a great brand and I am very pleased to be given the opportunity to lead the organisation at this important time. The challenge is to build upon the success that has been achieved in recent years and the solid foundations that have been laid for its future growth.'
