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Poundland poaches Tesco director

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Discount retailer Poundland has today announced the appointment of Andrew Higginson as Non – Executive Chairman for the company.

Higginson is a former Senior Executive and Board Director of Tesco, bringing over 20 years of retailing experience to his new position.

He will replace Colin Smith OBE who will remain as Non – Executive Director having seen the company through a period of significant growth over the last ten years.

Commenting on his repositioning within the business, Smith said: “I have greatly enjoyed my time as Chairman of Poundland and am proud of the growth we have achieved over the last ten years.

“I look forward to continuing to be an active board member.”

As one of the Senior Executives given credit for Tesco becoming the third largest retailer with an annual turnover of £67.6 billion, Higginson feels his new role will emulate similar success for the discount retailer.

He commented: “I am excited to be joining Poundland as Chairman and look forward to working with Jim and the team as the company continues its ambitious growth strategy.

“The company has always impressed me with its focus on delivering value to customers and I believe that there is significant potential to develop and grow Poundland further.”

Currently serving four million customers each week, the retailer’s future strategy involves a roll out of 60 new stores every year, putting it on track to create 2,000 jobs.

Last week, the rcompany reported a sales rise of 21.6 per cent for the 52 weeks to April 1st 2012, seeing a turnover of £780 million over the period and Jim McCarthy, Poundland CEO, noted at the time that shoppers appreciate the value for money offered in its stores.

Commenting on the new restructuring of his team, McCarthy said: “I would like to welcome Andy as our new Chairman.

“His strategic skills and retail experience will be invaluable as we continue to grow our business in the UK and Ireland, and evaluate a number of other growth opportunities.”

Published on Wednesday 11 July by Editorial Assistant

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