The Co-op announced on Friday that group chief executive officer Steve Murrells will step down following its annual general meeting in May.
At the same time, the consumer cooperative’s board said it had chosen to appoint Shirine Khoury-Haq, group chief financial officer and CEO of Co-op Life Services, as interim group CEO.
“It is important to put a clear CEO succession plan in place,” said outgoing CEO Steve Murrells.
“This is especially the case as we begin the process to appoint a new chairman.
“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.”
Murrells said he had 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, focussed 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.”
Allan Leighton, chair of The Co-operative Group, said Murrells’ decision would ensure the transitioning of both chair and CEO would 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.”
Leighton described Khoury-Haq as possessing “excellent leadership skills” and a “deep level” of operational experience, gained across a number of sectors globally.
“She understands our Co-op, and I and the rest of the board look forward to working closely with her going forward.”
Finally, incoming interim CEO Shirine Khoury-Haq said she was “proud” to be part of a “wonderful organisation”.
“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.”
