The Co-op Group has today announced that its group CEO Steve Murrells will step down following this year’s AGM in May.
The board has chosen to appoint Shirine Khoury-Haq, group CFO and CEO of Co-op Life Services, as its interim group CEO.
Mr 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, focused 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.”
Allan Leighton, chair of the Group, who is expected to stand down in 2024 after nine years in the role, said: “Steve’s decision will ensure the transitioning of both chair and CEO will take place seamlessly. 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.”
Ms 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.”