Poundland boss quits for rival retailer
THE chief executive of Black Country single price retailer Poundland has quit the firm after just seven months to joining supermarket group Sainsbury’s.
Kevin O’Byrne joined Poundland in April and was only appointed CEO in July.
His spell in charge of the firm coincided with its £610m acquisition in September by South African group, Steinhoff.
Mr O’Byrne joins the supermarket group as Chief Financial Officer. This follows the move of former CFO John Rogers to become the new CEO of Argos, which Sainsbury’s acquired from the Home Retail Group in September.
Mr O’Byrne will join the business on January 9, 2017 and will be a member of the J Sainsbury board and the business’s operating board.
He previously held executive roles at Kingfisher plc from 2008 to 2015, including CEO of B&Q UK & Ireland and Group Finance Director. Prior to this, he was Group Finance Director of Dixons Retail plc.
Mike Coupe, Group Chief Executive of J Sainsbury, said: “I am delighted to announce the appointment of Kevin as Chief Financial Officer of Sainsbury’s. We are two years into the delivery of our strategy and this is an important time as we integrate the Argos and Habitat businesses into the group. Kevin brings a wealth of retail and finance experience and a track record in growing businesses. I very much look forward to welcoming him to the team.”
