Andy Bond To Step Down As CEO Of Pepco Group
Andy Bond, the CEO of the parent company of Poundland, has announced he will step down from his role later this year due to health reasons.
Bond is set to step down at the end of March after ten years with the European retailer, which owns discount stores under the Pepco, Poundland, and Dealz brands across the continent. Bond, who is also a former chief of supermarket chain Asda, will remain an adviser to the board until the end of the financial year.
Bond will be replaced by chief operating officer Trevor Masters, a former supermarket executive at Tesco.
“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.”
During his time at Pepco, Bond helped oversee Poundland’s expansion in the UK, which included the introduction of Pepco’s clothing range into stores and bringing an end to the store’s single price point policy.