LONDON, UK: The Co-operative Group has introduced that its Group CEO, Steve Murrells will step down following this year’s AGM in May.
At the identical time the Board has chosen to nominate Shirine Khoury-Haq, Group CFO and CEO of Co-op Life Services as its Interim Group CEO.
Commenting, Co-op CEO Steve Murrells said; “It is important to place a transparent CEO succession plan in place. This is particularly the case as we start the method to nominate a brand new Chairman. In such circumstances I would both have wanted to commit for one other 5 years or step down now to permit a brand new CEO to become established and permit a smooth transition to occur, forward of a brand new Chairman arriving. I have therefore chosen to take that step now.”
“I have had 10 wonderful years on the Co-op and am very proud of all that we have achieved and the way we’ve proven that a purpose-led organisation, focussed on a strong imaginative and prescient of equity and values could make such a difference. Thanks to our amazing colleagues, we have been there for millions of members and customers when they’ve wanted us the most.”
Allan Leighton Chair of Co-op said “Steve’s decision will make sure the transitioning of each Chair and CEO will happen seamlessly. Steve has done a tremendous job on the Co-op in his 10 years of tenure and has been on the forefront of our transition. He is a top class chief and person and his legacy within the Co-op is firmly embedded.”
“Shirine has excellent management skills and a deep level of operational experience, gained globally throughout a variety of sectors. She understands our Co-op and I and the remainder of The Board, look forward to working closely with her going forward.”
Shirine Khoury-Haq said; “I am proud to be a half of a wonderful organisation that contributes a lot 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 proceed to make the Co-op a particular place to work whereas offering nice merchandise and services to our customers and members.”
Co-op is one of many world’s largest consumer co-operatives with pursuits throughout food, funerals, insurance, authorized services and energy. Owned by millions of UK consumers, the Co-op operates over 2,500 meals stores, over 800 funeral homes and provides merchandise to over 5,100 different stores, together with these run by independent co-operative societies and thru its wholesale business, Nisa Retail Limited.
Employing over 62,000 people, the Co-op has an annual turnover of £11.5 billion. As well as having clear monetary and operational objectives, the Co-op is a recognised chief for its social goals and community-led programmes. The Co-op exists to meet members’ wants and stand up for the issues they believe in.
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