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The Co-op Group has announced that its Group CEO, Steve Murrells will step down following this year’s AGM in May.
At the same time the board has chosen to appoint Shirine Khoury-Haq, group CFO and CEO of Co-op Life Services as its Interim Group CEO.
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.”
He added: “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, focussed on a strong vision of fairness and values can make such a difference.”
Allan Leighton, chair of Co-op, 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.”
Khoury-Haq added: “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.”
