Former Co-op boss Sutherland lands new CEO role
EUAN Sutherland, the former boss of The Co-operative Group, who quit in March amid furious rows over strategy, newspaper leaks and governance changes, has landed a new job as chief executive of SuperGroup, the parent company of the Superdry fashion brand.
Mr Sutherland, whose parting shot at the Co-operative was that it was “ungovernable” , will receive a basic salary of £675,000, with the prospect of an annual bonus of up to 150% of salary, a three-year performance-related share plan on appointment equivalent to 3x his annual salary and a further annual award scheme up to the equivalent of 2x annual salary.
He starts his new job immediately having been on the board of the Cheltenham-based company as a non-executive director since November 2012.
SuperGroup’s founder and incumbent chief executive Julian Dunkerton, will become product and brand director.
Chairman Peter Bamford said: “Euan has the stature, skills, experience and personal style to work in partnership with Julian and lead the team through the next stage of the Company’s development.”
Euan Sutherland added: “SuperGroup is a great business with a strong brand and I am truly delighted to be taking on the challenge of delivering its growth potential.
“The business is at an exciting stage of its development and has numerous opportunities for growth. I admire what the business has achieved and am excited about being part of the team that will deliver the strategy. Julian and I work well together and have a shared ambition to succeed with the global roll out of the Superdry brand.”
