Stuart Rose steps down as chair of EG Group ahead of US IPO
Stuart Rose has stepped down as chair of EG Group ahead of the forecourt operator’s planned flotation in New York later this year.
The former M&S chief executive has been succeeded by Roland Smith, chairman of the US fast food chain Jack’s, but will remain as a member of EG Group’s board as a non-executive director.
During his five-year term as chair, Rose played an important role in the group’s corporate activity, including its sale of EG UK to Asda in 2023 and its recent sale of EG Italy as part of its strategy to focus on its core growth markets.
Subscribe to TRBRuss Colaco, chief executive of EG Group, said: “I would like to thank Stuart for his significant contribution to EG Group over his five-year term as chairman, including putting in place the governance structures and strategic foundations for future success. We have all benefited from Stuart’s wisdom and counsel and look forward to that continuing in the future.”
Smith has more than 25 years’ experience as president and chief executive of both public and private companies, as well as serving as chairman of numerous boards.
Most recently, he was chairman and chief executive of Office Depot. He has previously held senior leadership roles including president and chief executive officer of Wendy’s International; chief executive officer of Arby’s Restaurant Group; president and chief executive officer of American Golf Corporation; and chairman and chief executive officer of AMF Bowling Worldwide.
Colaco said: “Roland is a highly respected and experienced executive with deep consumer industry and boardroom experience. Attracting an industry leader of Roland’s calibre and expertise will strengthen our board as we execute on our growth strategy across convenience retail, foodservice and fuel offerings.”
Smith said: “EG Group is an outstanding business with promising growth prospects, and I am delighted to join its board as chairman. I look forward to working with the board, Russ and the wider management team on the company’s strategic vision and to further develop EG Group’s leading positions in its core markets in the United States and Europe.”
