UK discount retailer Poundland has appointed former Tesco finance director Andrew Higginson as its chairman.
The UK-based single price value retailer confirmed today (11 July) Higginson had joined the company as a non-executive chairman.
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He replaces Colin Smith, the former head of Safeway supermarkets, who has been Poundland’s chairman for the last decade. Smith will remain on the board as a non-executive director.
Higginson was finance and strategy director at Tesco from 1997 until 2008, before taking on the role of head of retailing services. He officially retires from the role in September and last week was appointed chairman of catalogue retailer N Brown.
“I am excited to be joining Poundland as chairman and look forward to working with Jim [McCarthy, CEO] and the team as the company continues its ambitious growth strategy,” Higginson said. “The company has always impressed me with its focus on delivering value to customers and I believe that there is significant potential to develop and grow Poundland further.”
McCarthy said Higginson’s “strategic skills and retail experience” will be “invaluable” to Poundland as it continues to grow its business in the UK and Ireland, and “evaluate a number of other growth opportunities”.
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By GlobalDataLast week, a spokesperson for Poundland told just-food it has seen good growth in food sales in the UK but that it may now also look to mainland Europe for further growth opportunities.
