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Retail

Succession Process Underway As Musgrave CEO Announces Departure

Ireland's Musgrave Group has said that a succession process to find a new chief executive for the business is now underway, following the announcement that Chris Martin, who has led the business since 2005, is stepping down from the role.

In a statement, Musgrave Group said that Martin plans to step down 'following an orderly transition process', with The Irish Times newspaper reporting that the SuperValu and Centra parent is considering both external and internal candidates for the role.

Next Chapter

In a statement, Martin said, “After 14 years as CEO, I will be retiring from Musgrave and moving onto my next chapter. Musgrave has been an important part of my life and I have had the privilege of working with exceptional colleagues, world class retailers and supportive shareholders.

"Through our purpose of ‘Growing Good Business’ we have worked together to build brands that are set up for long term sustainable growth and we have created a business that people can be proud of and which contributes significantly to local communities."

He added that he is working with the board to provide a "seamless transition".

Martin joined Musgrave Group in April 2003 as group finance director, rising to the position of chief executive in April 2005. Prior to that, he was the chief executive of Mothercare, while he also held senior roles at Storehouse plc, Pizza Hut UK and Asda.

During his time at Musgrave, Martin and his team oversaw the acquisition of brands such as Superquinn, La Rousse Foods and Donnybrook Fair.

Elsewhere, Musgrave reported turnover for full-year 2018 of €3.9 billion, a 3.8% increase, while profit before tax stood at €84.5 million, a 5.6% increase on the previous year.

© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Helen Galgey. Click subscribe to sign up to ESM: The European Supermarket Magazine.

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