Ivel becomes Costcutter managing director

Supermarket symbol group Costcutter has appointed Nick Ivel as managing director.

Ivel takes over from Colin Graves, the founder of Costcutter and now executive chairman of the company.

Ivel has been with the convenience-store chain for seven years as finance and IT director, when he was involved in streamlining the company's head office systems and keeping the group's 1,400 branches up to date with new technology.

Graves said: 'This appointment secures future stability for both Costcutter head office and its retailers. I am convinced that he is the ideal managing director to maintain our position at the top of symbol group retailing.'

Ivel will take up his new post with immediate effect.