Co-operative Group appoints Allan Leighton as chairman
The Co-operative Group has appointed Allan Leighton as its first independent non-executive chair under its reformed governance structure.
Taking over from Ursula Lidbetter, who has chaired the group since November 2013, Leighton will work with The Co-operative Group’s board, Council of members and executive team to continue work in rebuilding the group.
Leighton is a former chief executive of Asda, non-executive chairman of Royal Mail, and president of Loblaw, which is the largest food retailer in Canada. He is currently chief executive of the Pandora jewellery chain but will step down from the role on 1 March.
His appointment follows the hiring of Sir Christopher Kelly as senior independent director of the group board in November last year. Leighton will now lead the work to complete the establishment of the new board, which will be composed of a majority of independent directors as the group looks to ensure greater professionalism and stronger oversight.
The appointment of the four remaining independent non-executive directors is expected ahead of the group’s Annual General Meeting in May this year. Further elected directors will join the board following the AGM.
Richard Pennycook, The Co-operative Group chief executive, said: “It is testament to the strength of the Co-operative brand and the organisation’s potential that a figure of Allan’s standing has chosen to join the group and I very much look forward to working with him.
“His background makes him the perfect fit for us at this moment in our development. He is highly respected in the business community; he has deep knowledge of the food retail sector as well as significant turnaround experience across a range of industry sectors; and he has worked in quoted businesses and privately-owned companies.”
Sir Christopher Kelly added: “The appointment of our first independent non-executive chair is a highly significant moment for The Co-operative Group. We are delighted to have a figure of Allan’s experience and standing to head our reformed governance structure.
“We held a thorough and wide-ranging process to appoint our first chair under the new governance framework and Allan was the outstanding candidate. He has long championed the power of business to benefit local communities and has a reputation for rolling his sleeves up and bringing about sustainable change.”
