// Poundland owner Pepco Group CEO Andy Bond will exit company to focus on health
// He will remain an advisor to the company’s board until the end of its financial year
// A search will begin immediately for Bond’s successor
Poundland owner Pepco Group’s chief executive, Andy Bond is set to leave the company following seven years in the role.
Bond will depart at the end of March due to health reasons.
He will remain an advisor to the company’s board until the end of its financial year.
Pepco Group has appointed its current group chief operating officer and managing director Trevor Masters as interim chief executive from 31 March 2022.
A search will begin immediately for Bond’s successor, with Pepco planning to evaluate both internal and external candidates for the position.
“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,” Bond said.
“It has been wonderful to help the business and our many talented colleagues grow and provide customers with great value products that they need throughout Europe and the UK.
“As I step down, I do it in the knowledge that the business is in great shape with a clear growth strategy, a fantastic team and a strong board. I wish everyone well in the future.”
Pepco Group Chairman Richard Burrows said: “On behalf of the Board, let me thank Andy for his successful leadership of Pepco Group over the last decade.
“Pepco Group today is a testament to Andy and the team that has built the business so successfully and with significant potential for future growth.
“We are fortunate to have in Trevor a highly capable and experienced executive who will lead the business while we undertake a thorough succession planning process.”