Kevin O’Byrne to succeed Jim McCarthy as Chief Executive Officer
Poundland Group Plc (the “Company”), Europe’s biggest single price discount retailer, is pleased to announce the appointment of Kevin O’Byrne to the Board as Chief Executive Designate with effect from 4th April 2016. Kevin will become Chief Executive Officer on 1st July and succeed Jim McCarthy, 60, who has informed the Board that he wishes to retire. Jim will then remain available to the Board until his retirement at the AGM in September 2016.
Jim will leave Poundland after a decade as CEO, having joined the Company in August 2006. Under his leadership Poundland has grown from 146 stores with sales of £310 million to a business with over 900 stores in the UK, Ireland and Spain, adding an additional £1 billion of sales in the process and serving over 7 million customers every week.
Kevin O’Byrne is an experienced international retailer. During his career he has been a Director of both Dixons Retail plc and Kingfisher Plc. His most recent role at Kingfisher was CEO of B&Q UK and Ireland, the market leader in home improvement. Kevin is also the senior independent director of Land Securities plc.
Darren Shapland, Poundland’s Chairman, said: “Jim has skilfully guided the business from a small private operation in 2006 to the strong and growing business it is today. His development of Poundland’s distinctive offer, professional retail skills together with building a modern, agile supply chain network were the foundations for Poundland’s transformation. His energy, enthusiasm and passionate management style has touched many people during his successful tenure. On behalf of the whole company I would like to thank him for the enormous contribution he has made to the business.
“I am delighted that Jim is succeeded by an executive of Kevin’s calibre. Kevin’s retail experience, in both the UK and many international markets, together with his clear leadership skills, make him the outstanding candidate to lead the business as it continues to grow as a public company.”
Jim McCarthy said: “Poundland is a strong business, which I am privileged to have had the opportunity to lead through a period of significant growth and change. After over 40 years in Retail, including 10 years leading Poundland, I will leave the business in the hands of a very experienced leadership team who I know will give Kevin their full support. I am delighted that Kevin will be taking over from me and I wish Poundland, its dedicated colleagues and supplier partners the very best for the future.”
Kevin O’Byrne said: “I am very excited about joining Poundland, a business with a strong brand and great potential. Jim and his team have built a very good business. I look forward to working with the talented and experienced management team to deliver its ambitious plans.”
There is no other information to disclose in relation to Kevin O’Byrne pursuant to LR 9.6.13.
For further information, please contact:
Darren Shapland, Chairman
+44 (0) 121 568 7000
Citigate Dewe Rogerson
+44 (0) 207 282 2847
+44 (0) 207 282 2941
Notes to Editors
Kevin O’Byrne started his career as a chartered accountant at Arthur Andersen. In 1995, he became European Finance Director of The Quaker Oats Company before joining Dixons Retail plc as Group Finance Director. While at Dixons he also ran PC World in the UK, Ireland, Spain and Italy. Kevin was Group Finance Director of Kingfisher plc from 2008 to 2012, when he was appointed CEO of its B&Q and Koçtaş businesses in China, Turkey, Germany and the UK, until he left the business in May 2015.
Kevin is a long-standing Non-Executive Director of Land Securities plc where he Chairs the Audit Committee and is also the senior independent director. Kevin holds a Bachelor of Business Studies from Trinity College, Dublin.
Poundland Group plc joined the premium segment of the London Stock Market in March 2014.
Poundland is winner of the 2015 Retail Industry Awards for Discount Retailer of the Year, and winner of Own Label Range of the Year at the 2015 Grocer Gold Awards for its Make Up Gallery cosmetics line.
Poundland Group operates over 900 stores in the UK and the Republic of Ireland. Poundland sells top brands and great quality own brand products, providing customers with amazing value every day since 1990.
Serving over 7 million customers every week, Poundland offers an irresistible shopping experience where shoppers are guaranteed to find thousands of quality products in each store, including over 1,000 well-known brands, across 17 shopping categories including food and drink, health and beauty, household, gardening, DIY, Pet, Stationery, Books, DVDs and Toys.
Poundland opened 60 new stores for the financial year end ending March 2015, creating approximately 1,600 jobs.
For more information about Poundland, please visit:
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