Newsagent and convenience retailer McColl’s has announced that its boss James Lancaster is to resign at the company’s AGM in April 2017. It is currently predicted to remain in the role of chief executive until a replacement is found but he will also take over the role of non-executive chairman until the AGM.
Commenting on the decision, James Lancaster said: "I have enjoyed my time as Chief Executive of McColl's and I am very proud of our many achievements. We have transformed the group into a true convenience business with a strong market position, having grown our convenience store base from nothing to 887 stores. I have led the business through two MBOs, numerous acquisitions and in 2014 a successful IPO, since when we have accelerated our convenience development strategy and made tremendous progress on introducing food to go. With our goal of 1000 convenience stores now well in sight, I believe the time is right for me to step down as Chief Executive. I am delighted to take on the role of Non-Executive Chairman and I look forward to working with the new CEO in due course, and to developing other business opportunities."
Sharon Brown, Interim Chairman said: "The appointment of a new CEO and James as Non-Executive Chairman will deliver an orderly succession. James has been instrumental in the growth of McColls so far and I have no doubt that given his knowledge of the food retailing sector and the business, he will continue to make a valuable contribution."
