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Poundland owner Pepco Group has announced that CEO Andy Bond will step down at the end of March due to health reasons.
As a result, the board has appointed Trevor Masters, currently group COO and MD of Pepco, to the role of interim CEO from 31 March 2022.
He will be supported in this role by the management team which includes Nick Wharton, CFO, who has returned full-time to the business.
The board will commence a search process for Bond’s replacement and said it will evaluate internal and external candidates for the role.
Bond said: ”I have decided now is the right time to focus my energies on my health. It has been wonderful to help the business and our many talented colleagues grow and provide customers with great value products that they need throughout Europe and the UK.
“As I step down, I do it in the knowledge that the business is in great shape with a clear growth strategy, a fantastic team and a strong board. I wish everyone well in the future.”
Richard Burrows, chairman of Pepco Group, added: “On behalf of the board, let me thank Andy for his successful leadership of Pepco Group over the last decade.
“We are fortunate to have in Trevor a highly capable and experienced executive who will lead the business while we undertake a thorough succession planning process.”
