McColl‘s co-founder and non-executive director James Lancaster has quit the board with immediate effect.
The reason for Lancaster‘s departure has not been specified beyond it being the “right time” to step down.
The news comes just over a month after the convenience grocery retailer reported a 31 per cent rise in revenue for its third quarter.
This was driven by the acquisition of 298 stores from the Co-op, while another supply deal with Morrisons expected to see growth rise even further.
“I am extremely proud of the business I co-founded over 40 years ago, but it is now the right time for me to stand down,” Lancaster said in a statement.
“I have every confidence that under the stewardship of the Board, and in the capable hands of Jonathan Miller and his superb management team, McColl’s will continue to thrive. I wish the Group all the best for the future.”
McColl’s chairman Angus Porter added: “On behalf of the board, I want to thank James for his enormous contribution to McColl’s over the years.
“Under his direction and guidance, he has helped grow McColl’s into one of the largest independent neighbourhood retailers in the UK. We wish him all the best with his future endeavours.”
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