Poundland Group PLC Board Changes (7039Q)
02 March 2016 - 6:01PM
UK Regulatory
TIDMPLND
RNS Number : 7039Q
Poundland Group PLC
02 March 2016
02 March 2016
Poundland Group Plc
Kevin O'Byrne to succeed Jim McCarthy as Chief Executive
Officer
Poundland Group Plc (the "Company"), Europe's biggest single
price discount retailer, is pleased to announce the appointment of
Kevin O'Byrne to the Board as Chief Executive Designate with effect
from 4th April 2016. Kevin will become Chief Executive Officer on
1st July and succeed Jim McCarthy, 60, who has informed the Board
that he wishes to retire. Jim will then remain available to the
Board until his retirement at the AGM in September 2016.
Jim will leave Poundland after a decade as CEO, having joined
the Company in August 2006. Under his leadership Poundland has
grown from 146 stores with sales of GBP310 million to a business
with over 900 stores in the UK, Ireland and Spain, adding an
additional GBP1 billion of sales in the process and serving over 7
million customers every week.
Kevin O'Byrne is an experienced international retailer. During
his career he has been a Director of both Dixons Retail plc and
Kingfisher Plc. His most recent role at Kingfisher was CEO of
B&Q UK and Ireland, the market leader in home improvement.
Kevin is also the senior independent director of Land Securities
Group PLC.
Darren Shapland, Poundland's Chairman, said: "Jim has skilfully
guided the business from a small private operation in 2006 to the
strong and growing business it is today. His development of
Poundland's distinctive offer, professional retail skills together
with building a modern, agile supply chain network were the
foundations for Poundland's transformation. His energy, enthusiasm
and passionate management style has touched many people during his
successful tenure. On behalf of the whole company I would like to
thank him for the enormous contribution he has made to the
business.
"I am delighted that Jim is succeeded by an executive of Kevin's
calibre. Kevin's retail experience, in both the UK and many
international markets, together with his clear leadership skills,
make him the outstanding candidate to lead the business as it
continues to grow as a public company."
Jim McCarthy said: "Poundland is a strong business, which I am
privileged to have had the opportunity to lead through a period of
significant growth and change. After over 40 years in Retail,
including 10 years leading Poundland, I will leave the business in
the hands of a very experienced leadership team who I know will
give Kevin their full support. I am delighted that Kevin will be
taking over from me and I wish Poundland, its dedicated colleagues
and supplier partners the very best for the future."
Kevin O'Byrne said: "I am very excited about joining Poundland,
a business with a strong brand and great potential. Jim and his
team have built a very good business. I look forward to working
with the talented and experienced management team to deliver its
ambitious plans."
There is no other information to disclose in relation to Kevin
O'Byrne pursuant to LR 9.6.13.
For further information,
please contact:
+44 (0) 121 568
Darren Shapland, Chairman 7000
Media Enquiries:
Citigate Dewe Rogerson
+44 (0) 207 282
Simon Rigby 2847
+44 (0) 207 282
Angharad Couch 2941
Notes to Editors
Kevin O'Byrne started his career as a chartered accountant at
Arthur Andersen. In 1995, he became European Finance Director of
The Quaker Oats Company before joining Dixons Retail plc as Group
Finance Director. While at Dixons he also ran PC World in the UK,
Ireland, Spain and Italy. Kevin was Group Finance Director of
Kingfisher plc from 2008 to 2012, when he was appointed CEO of its
B&Q and KoƧta businesses in China, Turkey, Germany and the
UK.
Kevin is a long-standing Non-Executive Director of Land
Securities Group PLC where he Chairs the Audit Committee and is
also the senior independent director. Kevin holds a Bachelor of
Business Studies from Trinity College, Dublin.
About Poundland
Poundland Group plc joined the premium segment of the London
Stock Market in March 2014.
Poundland is winner of the 2015 Retail Industry Awards for
Discount Retailer of the Year, and winner of Own Label Range of the
Year at the 2015 Grocer Gold Awards for its Make Up Gallery
cosmetics line.
Poundland Group operates over 900 stores in the UK and the
Republic of Ireland. Poundland sells top brands and great quality
own brand products, providing customers with amazing value every
day since 1990.
Serving over 7 million customers every week, Poundland offers an
irresistible shopping experience where shoppers are guaranteed to
find thousands of quality products in each store, including over
1,000 well-known brands, across 17 shopping categories including
food and drink, health and beauty, household, gardening, DIY, Pet,
Stationery, Books, DVDs and Toys.
Poundland opened 60 new stores for the financial year end ending
March 2015, creating approximately 1,600 jobs.
For more information about Poundland, please visit:
www.poundland.co.uk
www.Facebook.com/Poundland
www.twitter.com/poundland
This information is provided by RNS
The company news service from the London Stock Exchange
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