Poundworld CEO departs

The chief executive of Poundworld has stepped down from his role with immediate effect after just two years.

According to Retail Week, Gerry Gray cited personal reasons for his resignation and he has left the Normanton-based retailer with immediate effect.

Executive chairman Steve Johnson has reportedly been appointed to act as interim chief executive while the retailer searches for a replacement.

Gray was became the boss of Poundworld in March 2016 after taking over from founder Chris Edwards.

Most of his career was spent with Tesco, reaching the role of chief operating officer.