Andy Bond, chief executive of Poundland owner Pepco Group, is to leave the company following seven years in charge. 

Andy Bond Poundland

Bond will exit the role at the end of March due to health reasons. He will remain an advisor to the company’s board until the end of its financial year.

Bond’s career with Pepco spanned 10 years, seven of which were spent in the chief executive role.

Pepco Group has appointed current group COO and MD of Pepco Trevor Masters as interim CEO from March 31. A search will begin immediately for Bond’s successor, with Pepco planning to evaluate both internal and external candidates for the position.

Business ’is in great shape’

Bond said: “Every great journey must come to an end and it is with much reluctance that I have decided now is the right time to focus my energies on my health. It has been wonderful to help the business and our many talented colleagues grow and provide customers with great value products that they need throughout Europe and the UK. 

“As I step down, I do it in the knowledge that the business is in great shape with a clear growth strategy, a fantastic team and a strong board. I wish everyone well in the future.”

Pepco Group Chairman Richard Burrows said: “On behalf of the Board, let me thank Andy for his successful leadership of Pepco Group over the last decade. Pepco Group today is a testament to Andy and the team that has built the business so successfully and with significant potential for future growth. 

“We are fortunate to have in Trevor a highly capable and experienced executive who will lead the business while we undertake a thorough succession planning process.”