Pepco Group chief executive steps down
Poundland parent company Pepco Group has announced that its chief executive Trevor Masters has stepped down.
The group’s chair, Andy Bond, will take on the role of executive chair on an interim basis until Masters’ successor is appointed.
Bond said: “We would like to thank Trevor for his leadership most recently as group CEO and previously as managing director of Pepco Poland. He has provided leadership over the last few years and the business is well set for future growth. We wish him well.
“I am excited to be once again taking an active role in leading Pepco Group, providing continuity for a wonderful business that feels like family to me, which I’ve enjoyed being involved with since 2012.”
The group has also announced that its EBITDA for the year ending 30 September 2023 is expected to be slightly lower than previously anticipated, although in line with company-compiled analyst consensus. This follows a “weaker than expected” sales performance.
Earlier this week, the group announced that it had agreed to take control of up to 71 Wilko store leases for its Poundland brand.
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