Co-op Group CEO Steve Murrells will be stepping down following this year’s AGM in May, with Shirine Khoury-Haq, currently group CFO and CEO of Co-op Life Services being bought in as the retail group‘s interim CEO.
Murrells said he has had “10 wonderful years at the Co-op” and is “proud of all that we have achieved”.
In a statement given this morning, he emphasised the need to put a clear CEO succession plan in place, particularly as the process to appoint a new chairman continues.
“In such circumstances I would either have needed to commit for another five years or step down now to allow a new CEO to become established and allow a smooth transition to occur, ahead of a new chairman arriving. I have therefore chosen to take that step now.”
“I have had 10 wonderful years at the Co-op and am very proud of all that we have achieved and how we’ve shown that a purpose-led organisation, focused on a strong vision of fairness and values can make such a difference.
“Thanks to our amazing colleagues, we have been there for millions of members and customers when they have needed us the most.”
Co-op chair Allan Leighton said: “Steve’s decision will ensure the transitioning of both chair and CEO will take place seamlessly. Steve has done a tremendous job at the Co-op in his 10 years of tenure and has been at the forefront of our transition. He is a top-class leader and person and his legacy in the Co-op is firmly embedded.”
“Shirine has excellent leadership skills and a deep level of operational experience, gained globally across a number of sectors. She understands our Co-op and I and the rest of the board look forward to working closely with her going forward.”
Khoury-Haq also commented, saying she is “proud to be part of a wonderful organisation that contributes so much to our communities and our country”.
“We have lots to do and I am looking forward to working with my 60,000 colleagues, Allan and our board to continue to make the Co-op a special place to work while providing great products and services to our customers and members.”