Peter Marks to retire as Co-operative Group CEO
Marks, who has worked within the wider Co-operative Movement for 45 years, will step down at the group AGM on 18 May. He was appointed as chief executive in 2007 after the merger of the group with United Co-operatives, which he previously led.
Commenting on the announcement Marks said: "I am extremely proud of what has been achieved at The Co-operative Group over the past five years."
He continued: "I have a great team around me; one that has been strengthened over the past year as the group has continued to attract top talent across its businesses. Given all we have achieved, it now feels like the right time for me to stand down. I know this business will continue to flourish for years to come because of our determination to put the customer at the centre of everything we do and because I leave the group in very safe hands."
The Co-operative said its board will now now be starting the formal process for recruiting a successor, and will consider both internal and external candidates.
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