Pepco Group CEO Andy Bond to step down
Pepco Group, the owner of the PEPCO and Dealz brands in Europe and Poundland in the UK, has announced that its chief executive Andy Bond is to step down at the end of March due to health reasons.
However, he will remain an advisor to the company’s board until the end of the financial year.
Pepco Group said Trevor Masters will take on the chief executive role in an interim capacity from 31 March. Currently group chief operating officer and managing director of Pepco, he will be supported in his new role by the group’s management team which includes chief financial officer Nick Wharton.
The company has now commenced a search for Bond’s successor.
Richard Burrows, chairman of Pepco Group, said: “On behalf of the board, let me thank Andy for his successful leadership of Pepco Group over the last decade. Pepco Group today is a testament to Andy and the team that has built the business so successfully and with significant potential for future growth. We are fortunate to have in Trevor a highly capable and experienced executive who will lead the business while we undertake a thorough succession planning process.”
Bond has been credited with guiding Pepco Group through a period of significant growth from 200 stores in a single country to well over 3,500 in nineteen countries. He also led the float of the business on the Warsaw Stock Exchange in May 2021.
Bond said: “Every great journey must come to an end and it is with much reluctance that I have decided now is the right time to focus my energies on my health. It has been wonderful to help the business and our many talented colleagues grow and provide customers with great value products that they need throughout Europe and the UK. As I step down, I do it in the knowledge that the business is in great shape with a clear growth strategy, a fantastic team and a strong board. I wish everyone well in the future.”
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