Co-op Group CEO Steve Murrells to step down

The Co-op has today announced that its Group CEO, Steve Murrells, will step down following this year’s AGM in May. Shirine Khoury-Haq, Group CFO and CEO of Co-op Life Services, will take up the position on an interim basis.

The company recently began the process to appoint a new chairman, a contributing factor to Murrells’ forthcoming resignation.

Commenting, Co-op CEO Steve Murrells said: “In such circumstances I would either have needed to commit for another 5 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.

“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. Thanks to our amazing colleagues, we have been there for millions of members and customers when they have needed us the most.”

The board has chosen to appoint Shirine Khoury-Haq, Group CFO and CEO of Co-op Life Services as Interim Group CEO.

Allan Leighton Chair of Co-op said: “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.”  

Shirine Khoury-Haq said of her new position: “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.”

UK convenience retailer The Coop has added its range of rosé wines after seeing sales of 20% over the last year. Read more on that here.