// Co-op chair Allan Leighton is set to quit his role after 8 years
// The grocer has hired headhunters from Odgers Berndtson to find a replacement
Co-op chairman Allan Leighton will stand down from his role as the retailer next February after nine years in the role.
This is the maximum timespan recommended under best practice corporate governance rules.
The grocer has hired headhunters from Odgers Berndtson to find a replacement for Leighton and senior independent director Sir Christopher Kelly.
A shortlist of five to six people has been drawn up for the chairman role but a final decision on the appointment is unlikely to be made before Co-op announces its results this week.
A Co-op spokesperson said: “Over the past 12 months our Co-op has made considerable progress against the strategic priorities Shirine and Allan set out last April.
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“When we announce our results…our members will see that their Co-op has strengthened, has clear business goals in place and continues to deliver on its social commitments.
“This progress would not have been possible if we didn’t have clear and textbook succession plans in place at both board and executive level. Such clarity is enabling us to manage the short-term economic headwinds, whilst ensuring our Co-op continues to succeed longer-term.”
Leighton will leave a relatively new executive team. Rachel Izzard was announced as chief financial officer last month, while Shirine Khoury-Haq was appointed chief executive in August.
