Single-price retailer Poundland, which operates the Dealz franchise in Ireland and Spain, has announced the retirement of chief executive Jim McCarthy on 1 July.
McCarthy will leave Poundland after a decade as chief executive, having first joined the company in August 2006.
Under his leadership, Poundland has grown from 146 stores with sales of £310 million to a business with over 900 stores in the UK, Ireland and Spain, and sales of more than £1 billion.
Kevin O'Byrne, former chief executive of B&Q UK and Ireland, will take over as chief executive of the group in July.
"Poundland is a strong business, which I am privileged to have had the opportunity to lead through a period of significant growth and change," said McCarthy.
"After over 40 years in retail, including ten years leading Poundland, I will leave the business in the hands of a very experienced leadership team, who I know will give Kevin their full support. I am delighted that Kevin will be taking over from me, and I wish Poundland, its dedicated colleagues and supplier partners the very best for the future."
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.
