McColl’s CEO steps down amid funding troubles

McColl’s Retail Group plc has announced that Jonathan Miller has stepped down from his role as chief executive officer (CEO) and from the board. 

The search to appoint a new CEO is in progress and pending the appointment, Angus Porter, currently non-executive chairman of the group, has assumed the role of executive chairman on a temporary basis.

Meanwhile, Karen Bird, chief operating officer, has become interim chief executive of the group to manage day-to-day executive responsibilities. 

Additionally, Giles David, chief financial officer, will also assume additional responsibilities. 

McColl’s remains in ongoing dialogue with its lenders to find a financing solution that involves its existing partners and stakeholders. 

Porter said: “On behalf of the board, I want to take this opportunity to thank Jonathan for the immense contribution he has made to McColl’s and to pay tribute to his commitment in leading the business over the course of more than 30 years. We wish him all the very best in the future. 

“As we discuss with our stakeholders the transformation of our business to a grocery-led convenience offer, Jonathan and the board have agreed that now is the right time to bring in a new chief executive to lead the business into a new phase.” 

Miller said: “It has been an enormous privilege to work for McColl’s for the last 30 years, most recently leading the business and transforming our offer in partnership with Morrisons.

“I remain a significant shareholder, and I leave confident that, with its clearly defined, convenience-led strategy and strong partnership with Morrisons, McColl’s will continue to play a vital role at the heart of local communities across the UK.”