Wilko MD steps down amid refinancing talks
According to Wilko’s CEO, Hands will stay with the business until the end of January to ‘ensure a smooth transition’, with her successor to be announced soon
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Wilko has announced that its managing director Alison Hands is stepping down from her role, as she is set to take up a new role as CEO of Lincolnshire Co-op next year.
It comes as The Grocer has reported that the high street retailer is in emergency talks with lenders to secure a £30m loan after it failed to agree an extension to its revolving credit facility.
It reported that the business also recently transferred its distribution centre in Worksop, Nottinghamshire, to DHL for £48m in a sale and leaseback deal.
According to Wilko’s CEO Jerome Saint-Mark, Hands will stay with the business until the end of January to “ensure a smooth transition”, with her successor to be announced soon.
Following her departure, she will be replacing Ursula Lidbetter in the role of CEO at Co-op after Lidbetter announced her retirement in December earlier in March this year. Lidbetter spent 37 years with the business, 18 of which as CEO.
Co-op CFO Steve Galjaard will be acting CEO until Hand’s takeover in April 2023.
Hands said: “I’m honoured to be joining this values-driven organisation, which continues to build on its success, whilst delivering its purpose to make life better in communities. I’m excited to be charged with leading the society through the next phase of its development, as we collectively tackle the challenges of the current external environment.”
Hands has 33 years of retail experience with M&S, The Body Shop, Walgreens Boots Alliance and Boots Opticians.
