Saturday, July 20, 2024

Stephan Borchert appointed as chief executive of Pepco Group


Pepco Group, the parent company of Poundland, has named Stephan Borchert as its new chief executive after an extensive global search process. Borchert will officially take on his new role on 1 July, starting with a three-month induction period to familiarize himself with the group’s operations and culture.

Former chief executive Andy Bond will continue in his role as executive chair during this time, transitioning to a non-executive chair position on 1 October. Bond expressed his excitement about welcoming Borchert, highlighting his experience and successful track record in retail and international business operations.

Borchert has a background in leading international companies in various sectors, including fashion, beauty, pharmacy, and healthcare services. His previous roles include chief executive of Grand Vision and president of Sephora EMEA. Currently, he holds non-executive director positions at major pan-European retail companies in the beauty and apparel sectors.

In a statement, Borchert expressed his enthusiasm for joining Pepco Group and working towards the company’s strategic priorities in the next phase of its growth journey. Despite facing a challenging trading environment, Pepco Group announced its first-half results today.

With Borchert at the helm, the company aims to improve profitability and cash generation in its core established business while pursuing measured profitable growth. Bond is optimistic about the future collaboration with Borchert and the positive impact they can achieve together.

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