Former Co-operative Group chief executive Euan Sutherland has returned to retailing as CEO of fashion retailer SuperGroup.
Sutherland, who was at the helm of the society for 10 months, takes up his new role with immediate effect. He has been a non-executive director at the company for two years.
Sutherland joined The Co-op in May 2013, just days before a £1.5bn black hole was revealed in The Co-operative Bank’s finances. He spent much of his time at the society battling to save the Bank, first announcing a bail-in plan and then selling all but 20% of the bank to US hedge funds.
He resigned from the role in March this year, after details of his pay package were leaked to the media, claiming that the society was “ungovernable”.
SuperGroup said Sutherland would be “instrumental in delivering the growth plans of the Company and leading through the complexity that brings”.
Sutherland takes over from SuperGroup founder Julian Dunkerton, who will become product and brand director.
Sutherland added: “SuperGroup is a great business with a strong brand and I am truly delighted to be taking on the challenge of delivering its growth potential.
“The business is at an exciting stage of its development and has numerous opportunities for growth. I admire what the business has achieved and am excited about being part of the team that will deliver the strategy. Julian and I work well together and have a shared ambition to succeed with the global rollout of the Superdry brand.”