5th-gen Fenwick chairman to be replaced by former Co-op CEO

Former Co-op chief executive Richard Pennycook is poised to become the next non-executive chairman of Fenwick, after Mark Fenwick announced he would step down from the position in a few months‘ time.

Fenwick, the fifth-generation chair, will resign from the retailer during the annual general meeting on May 18. 

Pennycook, who only announced his resignation from Co-Op last week, will then join the department store chain on the same date.

READ MORE: Fenwick family pockets £4.8m as it warns over living wage & business rates

Fenwick will continue on as senior advisor to the board, with a focus on property, development and asset management.

“The business and the family welcome Richard‘s appointment and we look forward to working closely with him to drive Fenwick‘s ambitious growth plans,” he said.

Pennycook added: “I have always admired the company and I am excited about the opportunity to work with the Fenwick family and team to realise the future vision and growth plans for the business.”

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