Poundland Group Plc has appointment former head of B&Q Kevin O’Byrne as its chief executive officer, to replace Jim McCarthy who is retiring from the role.
It was revealed in a company statement on Wednesday 2nd that O’Byrne will join Poundland’s board in April and will take over the role in July 1. McCarthy will officially retire in September.
O’Byrne previously served as a CEO of British home-improvement chain B&Q for three years before leaving Kingfisger Plc following management shake-up, he previously worked as a finance director at Dixons group.
The Poundland chain has seen a dramatic increase in popularity in discount retailing in the UK, McCarthy oversaw Poundland’s success, and acquiring of the company’s rival company 99p in 2015.
One of O’Byrne task will be to revive growth in sales at the discount chain, which has recently experienced a slow period after a rise in online shopping.
Darren Shapland, Poundland Chairman said in the statement: “Kevin’s retail experience, in both the U.K. and many international markets, together with his clear leadership skills, make him the outstanding candidate to lead the business,”