Co-op Group’s Hewitt to replace Rankin

YVONNE RANKIN, Head of the Specialist Retail Division, is to leave the Co-operative Group to work for an international retailer and Paul Hewitt has been promoted to the new role of Deputy Chief Executive to replace her.
Following his secondment as acting head of the Co-operative Bank and Co-operative Insurance Society (CIS) after the departure of its former chief executive Mervyn Pedelty
In his new role, Mr Hewitt, currently Chief Financial Officer for the Group, will take on responsibility for its specialist retail businesses.
These include the UK&#039s leading funeral director, Co-operative Funeralcare, the country&#039s largest independent travel retailer, Travelcare and Co-op Pharmacy, a major independent pharmacy chain.
He will also oversee the Group&#039s financial function and work closely with the society&#039s Chief Executive Martin Beaumont on business strategy.
His promotion follows the decision of Yvonne Rankin to leave the organisation and take up a senior position with AS Watson International, the retail and manufacturing arm of the global corporation Hutchison Wampoa.
The Group will recruit a new chief financial officer with Paul retaining his existing responsibilities in the interim.
Martin Beaumont, Chief Executive of the Co-operative Group, said: "I am delighted to promote Paul to this new role and confident he will take these key businesses forward. I would like to thank Yvonne for the significant contribution she has made to the Group, developing the businesses under her control. She is moving to progress her career and we wish her well in her new position."
Ms Rankin commented: "I have really enjoyed leading the businesses I&#039ve been involved with. We&#039ve got some great people in those businesses and I feel privileged to have worked with them. I would like to thank them for the commitment and support they have shown to me during that time and to wish both the individuals and the businesses well for the future."