Co-op chief executive Steve Murrells to step down
Co-op has confirmed that its group chief executive Steve Murrells is to step down following this year’s AGM in May.
Murrells has worked with Co-op for nearly ten years, initially as chief executive of the retail business, then as group chief executive from 2017. Prior to that, he worked with Tulip, Tesco and T & S Stores.
Explaining the decision, Murrells said: “It is important to put a clear CEO succession plan in place. This is especially the case as we begin the process to appoint a new chairman. In such circumstances I would either have needed to commit for another five 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.”
Until a permanent successor is appointed, Shirine Khoury-Haq, Co-op group chief financial officer and chief executive of Co-op Life Services, will succeed Murrells on an interim basis.
Allan Leighton, chair of Co-op, said “Steve’s decision will ensure the transitioning of both chair and chief executive will take place seamlessly. Steve has done a tremendous job at the Co-op in his 10 years of tenure and has been at the forefront of our transition. He is a top class leader and person and his legacy in the Co-op is firmly embedded.”
He added: “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.”