The name’s Bond…Andy Bond steps into Poundland hotseat

BLACK Country single price retailer Poundland has moved quickly to replace CEO Kevin O’Byrne, who has announced he is quitting the firm to take up a senior position with Sainsbury’s.

Mr O’Byrne only joined the Willenhall-based firm in April, becoming CEO in July. His tenure coincided with the retailer’s £610m acquisition by South African group Steinhoff.

Steinhoff has turned to a safe pair of hands to steer Poundland through the integration process, bringing in former Asda chief executive Andy Bond.

Mr Bond was chief executive of Steinhoff’s Pepkor general merchandise business and has spent the last two years helping to launch its new UK fashion brand Pep & Co, together with discount houseware retailer Guess How Much.

To ease the integration, Poundland is likely to be the focus of Pepkor operations in both the UK and Europe.
Pepco is already well established in Poland and Poundland has an international presence with its Dealz business in Ireland and a fledgling operation in Spain.

However, turning the company’s fortunes around after its £55m acquisition of the 99p Store group following a protracted process which had to be overseen by the competitions watchdog will be one of priorities on his agenda.

Mr Bond is well versed in the UK retail sector having been head of Asda from 2005 to 2010, prior to its takeover by US etail giant Walmart.

He will take over from Mr O’Byrne – who leaves to become Sainsbury’s new CFO – early in the New Year.