Co-Op announces new chair as ‘ideal person’ to take UK’s fifth biggest grocer forward
The Co-op announced has announced a new chair, with Debbie White set to succeed Allan Leighton when he steps down in February 2024.
White has held a number of important executive roles, having served as chief executive of Interserve and a senior director at Spire Healthcare.
White will replace Leighton, who is approaching the end of his nine year term.
Leighton was appointed back in 2015 as part of a cleanup operation after the firm found a £1.5bn hole in its banking arm in 2013.
Since then the Co-op has regained its financial strength as it sold a number of its non-core businesses. Last year it sold 129 petrol stations to Asda for £600m, committing to reinvesting the funds back into its stores.
He said White was “the ideal person” to take the Co-op forward.
“She has extensive business experience across a range of sectors and I’m personally delighted that she will join us at this exciting time, as our Co-op focuses on recruiting a million new members and providing top class products and services for our members and customers,” he continued.
White said he was “delighted and privileged to join an “iconic business”.
“The Co-op is the original business with purpose, with ambitious plans to grow further in the coming years and I’m excited by the prospect of being a part of a business which exists to meet the needs of its members,” she continued.
The Co-op, which has over 5m members, is the UK’s fifth largest food business and a major player in funeralcare. It still retains a presence in insurance and legal services, although it sold its banking arm to hedge funds in 2014
Debbie is expected to join the board as an independent non-executive director in August 2023 before taking on the role of chair in February next year. She will earn £250,000 per year.