Andy Bond, chief executive of the owner of discount retailer Dealz, is to step down because of health reasons at the end of March, less than a year after leading a €5 billion flotation of the business.
Pepco Group, which also owns European discount retailer brands Pepco and Poundland, said on Wednesday it had appointed Trevor Masters, currently group chief operating officer, to the role of interim chief executive from March 31st while the board kicks off a comprehensive search process for a successor to Mr Bond.
In his 10 years at Pepco, seven as chief executive, Mr Bond (56) grew the business from 200 stores in a single country to more than 3,500 in 19 countries. The group listed on the Warsaw Stock Exchange in May 2021.
Prior to joining Pepco, Mr Bond was the boss of UK supermarket group Asda.
“Every great journey must come to an end and it is with much reluctance that I have decided now is the right time to focus my energies on my health,” he said.
He will remain an adviser to the Pepco board until the end of the financial year. – Reuters
