Poundstretcher names Derek Lawlor as new CEO
Poundstretcher has appointed Derek Lawlor as its new chief executive.
Lawlor previously worked with Asda for seven years, most recently as chief merchandising officer. Prior to that, he was category director at Tesco.
The move means that Poundstretcher owner and previous chief executive Aziz Tayub has now moved to the role of chairman.
Lawlor told Business Live that he would like to make the Poundstretcher business the best it can be for both customers and staff, with a steady supply of branded goods so customers know what to expect when they enter a store.
He explained: “It’s a wonderful business and there are a lot of growth opportunities – particularly in a world with a cost of living crisis – and I think we can do a good job to really make people’s pounds go a bit further.
“The price of everything is going up and everybody is going to have less money to go around – so the opportunity to work with the Poundstretcher team is really exciting to me.
“The attractive thing for me about Poundstretcher is that it’s a great brand with the ability to grow within the most competitive food market in the world.”
After going through a CVA, Poundstretcher is now looking ahead to future growth. It currently has 12 new stores in the pipeline and has the capacity to open 50 shops a year without resorting to outside funding.
Photo credit: Poundstretcher Dingwall store
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