·       Andy Bond, former CEO of Pepco Group, to return as Chairman after AGM

·       Neil Galloway to join as Group Chief Financial Officer in April from IWG plc

Pepco Group, the fast-growing pan-European variety discount retailer, and owner of the Pepco and Dealz brands present across Europe and Poundland in the UK, today announces the nomination of Andy Bond as Chairman and Neil Galloway as Chief Financial Officer.

The Board will propose the appointment of Andy – who was the former CEO of Pepco Group and led it through its flotation on the Warsaw Stock Exchange – as Chair of the Board at the Company’s AGM on 2 February 2023. Richard Burrows, who joined as Chairman in May 2021 at the time of the Company’s IPO, will step down from the Board at the end of the AGM.

Andy stepped down from his executive duties and from the Board in March 2022 as a result of health issues from which he has subsequently made a full recovery. Andy had a highly successful ten-year career with Pepco Group including listing the business.

Neil will join as Pepco Group CFO on 1 April 2023 from IWG plc, a leading provider of flexible workspace in 120 countries, where he was Executive Vice-President. Neil will be nominated as an executive director at the Company’s AGM.

He is an experienced public company CFO who worked in senior finance and commercial roles at multi-nationals over the last 15 years, including in cross-border retail. Before IWG, Neil was Group Finance Director and an Executive Director from 2013 to 2019 at The Dairy Farm Group (now DFI Retail Group), the London and Singapore-listed international multi-format retailer that operates supermarkets, convenience stores, health and beauty stores, home furnishings stores and restaurants across 11 markets in Asia. During his tenure, Neil had responsibility for the Group’s franchise with IKEA.

Prior to this, Neil was Finance Director and CFO at The Hongkong & Shanghai Hotels, owner and operator of the Peninsula Hotels. He began his career in the investment banking sector, working on a wide range of transactions and holding senior positions at ABN AMRO and HSBC.

Richard Burrows, Chairman of Pepco Group, said: “It is great to welcome Andy back as incoming Chairman. Alongside Trevor Masters as CEO, Neil Galloway as CFO and an experienced Board, Pepco Group will continue on its ambitious expansion plan. Having led the board since the IPO and a smooth leadership transition to Trevor, I have seen the effectiveness of our strategy translate into very tangible growth and now is the right time for me to step aside.”

Andy Bond, Chairman designate of Pepco Group, commented: “I am delighted to be re-joining Pepco Group in the role of Chairman. Pepco is a fantastic company with an exciting future ahead. I look forward to working with Trevor and Neil, the Board and other stakeholders to continue the Group’s growth story. I’d like to thank Richard for the great job that he’s done in leading the Board and wish him well in the future.”

Trevor Masters, Chief Executive of Pepco Group, said: “I would like to express my thanks to Richard for his first-class stewardship of Pepco Group, guiding it and the Board through a successful period, including as a listed company. I am excited to be working with Andy again, alongside Neil.

“Neil brings a wealth of retail and finance experience, and a track record in supporting growing businesses in global markets. His expertise will be instrumental in supporting the Group’s strategy to be a bigger, better, cheaper and simpler business. I would like to sincerely thank Mat Ankers, who continues to make a significant contribution as interim CFO and will enable a smooth transition as Neil joins.”

Neil Galloway, Chief Financial Officer designate of Pepco Group, commented: “It is fantastic to be joining Pepco Group at such an exciting time in the Group’s journey. I look forward to working with Trevor and the Group’s leadership team, to capitalise further on the growth opportunities ahead.”