The Co-op has appointed Shirine Khoury-Haq as its new chief financial officer, replacing Ian Ellis who announced his retirement last year.

The grocery retailer said that Khoury-Haq brings “a wealth of experience” to the new role and will take up her new role in the summer.

Upon taking up her new role, Khoury-Haq will become a member of both the Co-op’s executive team and non-executive board.

Khoury-Haq is a certified accountant and has worked for McDonald’s, IBM, as well as with insurance firm Catlin and most recently as the chief operating officer of Lloyds of London. She has also served as a non-executive director with the Post Office.

She replaces former chief financial officer Ian Ellis in the role. Ellis joined the Co-op in March 2015 from variety retailer Wilko. He was also previously head of finance at supermarket giant Morrisons and worked for Northern Foods.

The Co-op continues to go from strength to strength in a congested and challenging grocery market. It posted a 27% uplift in pre-tax profits at its most recent full-year financial updates for the 52 weeks to January 5, 2019. Total revenues grew 14% to ÂŁ10.2bn.

Co-op boss Steve Murrells said: “Over the past year we have continued to successfully transform the Co-op, leading to a 14% increase in revenues to £10.2bn and the return of £60m directly to our members and £19m to over 4,000 community projects across the UK.”

Topics