Pan-European variety discount retailer, Pepco Group has nominated former CEO Andy Bond as its chair and Neil Galloway as chief financial officer.
The board will propose the appointment of Bond as chair of the board at the company’s AGM on 2 February 2023.
Elsewhere, Richard Burrows, who joined as chair in May 2021 at the time of the Company’s IPO, will step down from the board at the end of the AGM.
'Ambitious Expansion Plan'
Richard Burrows, chair of Pepco Group, stated, “It is great to welcome Andy back as incoming chair. Alongside Trevor Masters as CEO, Neil Galloway as CFO and an experienced board, Pepco Group will continue on its ambitious expansion plan.
"Having led the board since the IPO and a smooth leadership transition to Trevor, I have seen the effectiveness of our strategy translate into very tangible growth and now is the right time for me to step aside."
Trevor Masters, chief executive of Pepco Group, said, "I would like to express my thanks to Richard for his first-class stewardship of Pepco Group, guiding it and the board through a successful period, including as a listed company."
In March of this year, Bond stepped down as chief executive of the company and from the board following health issues from which he has subsequently made a full recovery.
He played an instrumental role in leading the company through its flotation on the Warsaw Stock Exchange.
Andy Bond, chair designate of Pepco Group, commented, “I am delighted to be re-joining Pepco Group in the role of chair. Pepco is a fantastic company with an exciting future ahead.
"I look forward to working with Trevor and Neil, the board and other stakeholders to continue the group’s growth story. I'd like to thank Richard for the great job that he's done in leading the board and wish him well in the future."
Galloway will step in as finance chief of the company on 1 April 2023.
He will join from IWG plc, a provider of flexible workspace solutions in 120 countries, where he serves as executive vice-president.
He has worked in senior finance and commercial roles at various multi-national companies over the past 15 years, including cross-border retail.
Before IWG, he was the group finance director and an executive director at The Dairy Farm Group (now DFI Retail Group), responsible for the group’s franchise with IKEA.
Prior to this, he served as finance director and CFO at The Hongkong & Shanghai Hotels, owner and operator of the Peninsula Hotels.
He began his career in the investment banking sector, working on a wide range of transactions and holding senior positions at ABN AMRO and HSBC, the Dealz and Poundland operator added.
Masters stated, “Neil brings a wealth of retail and finance experience, and a track record in supporting growing businesses in global markets. His expertise will be instrumental in supporting the group’s strategy to be a bigger, better, cheaper and simpler business.
"I would like to sincerely thank Mat Ankers, who continues to make a significant contribution as interim CFO and will enable a smooth transition as Neil joins."
© 2022 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.