Upheaval at Poundland as chairman quits for Morrisons

THE chairman of Black Country-based discount retailer Poundland has quit to take the helm of struggling supermarket group Morrisons.

Poundland, which floated on the London Stock Market in March, announced today it was replacing Andrew Higginson with another seasoned retail veteran, Darren Shapland, currently the group’s senior independent director, with immediate effect.  

Shapland has over 25 years of retail and public company experience having held senior financial and operational roles with The Burton Group/Arcadia, Kingfisher and J Sainsbury plc, where he was Chief Financial Officer from 2005 to 2010 before becoming Group Development Director. Most recently he was Chief Executive of Carpetright plc.

He has been the SID of Poundland since February 2014. He is also a non-executive director of Wolseley and Ladbrokes, where he chairs the Audit Committee.  
 
Jim McCarthy, Poundland’s Chief Executive Officer, said: “Darren has been on the Board for nearly six months and has already made a very significant contribution to the business. As our Senior Independent Director he is ideally placed to ensure a seamless transition into the chairman’s role.  

“Andy has been an excellent chairman for Poundland and was invaluable in helping guide us through our successful IPO this year.  He leaves with the appreciation and thanks of the whole company and we wish him well in his future endeavours.”
 
Shapland said: “I am delighted to be appointed chairman and am very excited about the next few years in the development of Poundland. With the successful IPO behind us, the UK business growing strongly, and our first store in Continental Europe just opened, it’s a great time to be taking on this new role.”
 
Higginson said: “It’s been a great privilege to chair Poundland and to work with its tremendously talented team through such an important period in its development. I wish the company every success in the future.”