The Co-op has announced that its Chief Executive Steve Murrells will step down following the group’s AGM in May. He will be replaced by Shirine Khoury-Haq, who is currently the society’s CFO and CEO of its Co-op Life Services unit.
Murrells joined the Co-op in 2012 to lead its grocery retail chain and was then appointed group CEO in 2017, leading a successful turnaround of the business. He had previously been CEO of Tulip which had followed a five-year spell at Tesco.
Commenting on his departure, Murrells said; “It is important to put a clear CEO succession plan in place. This is especially the case as we begin the process to appoint a new Chairman. In such circumstances, I would either have needed to commit for another five years or step down now to allow a new CEO to become established and allow a smooth transition to occur, ahead of a new Chairman arriving. I have therefore chosen to take that step now.
“I have had 10 wonderful years at the Co-op and am very proud of all that we have achieved and how we’ve shown that a purpose-led organisation, focussed on a strong vision of fairness and values can make such a difference.”
Allan Leighton, Chair of the Co-op said Murrells had done a “tremendous job”, adding: “Shirine has excellent leadership skills and a deep level of operational experience, gained globally across a number of sectors. She understands our Co-op and I and the rest of The Board, look forward to working closely with her going forward.”
Before joining the Co-op in 2019, Khoury-Haq was Chief Operating Officer at Lloyd’s of London for five years, and Group Head of Operations and UK Chief Operating Officer at Catlin Underwriting Agencies. She began her career in the US, spending two years with McDonald’s, and nine years with IBM Global Business Services, rising to Associate Partner.
Commenting on her appointment, Khoury-Haq: “We have lots to do and I am looking forward to working with my 60,000 colleagues, Allan and our Board to continue to make the Co-op a special place to work while providing great products and services to our customers and members.”
Last month, Jo Whitfield, the Chief Executive of the Co-op Food division, announced she was taking a four-month career break to help her two sons prepare for their upcoming GCSE and A-level exams. Murrells has taken over day-to-day control of the food business while she is away.
