Euan Sutherland has been announced as the successor to Co-operative Group Chief Executive Peter Marks.
Mr Sutherland, aged 43, who is a non-executive director of the Group's Food Subsidiary Board since 2010, has been Chief Operating Officer of Kingfisher, the parent company of DIY chain B&Q, since May 2008. His previous retail experience includes Superdrug, Matalan, Currys, Coca Cola, Mars and Boots.
He is due to step down from Kingfisher in March and replace Mr Marks on his retirement from the 5,000-outlet Co-operative Group in May. Mr Marks, who has spent his entire working life within the Co-operative Movement, will retire, aged 63, after six years in his current role following the merger with United Co-operatives where he also held the Chief Executive role.
During his time, Mr Marks has increased the multi-billion pound society's presence in the food market as the fifth largest player following the Somerfield acquisition; created a "super mutual" with the merger of the Co-operative Bank and Britannia, and recently the Lloyds Banking Group Verde business; and the Group's family of businesses have been transformed following the expansion of Legal Services and the creation of the joint venture with Thomas Cook in travel.
In confirming the Co-operative Group's appointment, Chair Len Wardle said: “I am delighted that Euan is to be the Co-operative Group’s next Group Chief Executive. He 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."
Mr Sutherland 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."
Ian Cheshire, Kingfisher's Group Chief Executive, said: "I would like to thank Euan for his contribution to Kingfisher over the last four and a half years. He has played an important part in the successful development of the Group and I wish him well in his new role.
"A key element of our success in recent years has been bringing together our international teams and harnessing their talent to work on common goals. As a result, Kingfisher today has great strength and depth in its management and I will personally be involved in the transition as Euan's responsibilities are handed over. I look forward to working closely with our management teams as we continue with our 'Creating the Leader' strategy."
In this article
- chief executive
- chief operating officer
- Cooperative banking
- Economy of the United Kingdom
- Employment Change
- Euan Sutherland
- Person Attributes
- Person Career
- Peter Marks
- Social Issues
- The Co-operative Bank
- The Co-operative Food
- The Co-operative Group
- United Co
- United Co-operatives
- Walsh College of Accountancy and Business
- United Kingdom