The retail group Pepco Group NV announced important personnel decisions on Friday. Trevor Masters has been appointed CEO by the Board of Directors with immediate effect, the parent company of the Pepco, Dealz and Poundland chains said. The company is therefore focusing on continuity. Masters has acted as interim CEO since earlier this month after Andy Bond resigned due to health reasons.
The appointment was preceded by an “extensive search process” in which Masters proved to be an “outstanding candidate for the role,” the company said. The former boss of the British supermarket chain Tesco has worked for the group of companies since 2019. Since then, Masters has been Managing Director of the textile discounter Pepco, and at the beginning of the year he also took on the position of Chief Operating Officer (COO) at group level. According to the company, Masters will also be elected to the board of directors at the next shareholders’ meeting.
The Pepco Group also announced that Chief Financial Officer (CFO) Nick Wharton would step down at the end of the month. The reason given by the retailer was “persistent health problems”, which had already become known last autumn. Mat Ankers, who had deputized for Wharton during the first sick leave, was reappointed as interim CFO. The group now wants to find a new chief financial officer as part of an “internal and external search”. However, Wharton will continue to serve as an advisor to the board of directors until the end of the current fiscal year, the company said.