Former Co-op CEO takes the reins at SuperGroup

IN DEPTH_ Euan Sutherland, former Chief Executive Officer at Co-op has been appointed Group CEO at British fashion retailer SuperGroup, best known for its apparel label Superdry. Sutherland, who has been a non-executive director at SuperGroup for over two years, will be taking

 over the reins from the group's founder Julian Dunkerton, with immediate effect. Dunkerton will be moving to the newly created role of Founder and Product and Brand Director.

Superdry founder Julian Dunkerton takes on new role

“Euan's appointment marks another important step in the continued evolution of SuperGroup,” said SuperGroup Chairman, Peter Bamford. “Euan has the stature, skills, experience and personal style to work in partnership with Julian and lead the team through the next stage of the company's development.”

SuperGroup added that the new appointment would give Dunkerton and the group's chief designer, James Holder, more time and space to focus “more fully on developing the group's product ranges and enhancing and protecting the brand as it increases its global presence.”

“With the number of opportunities SuperGroup has available and the increasing complexity of the business, now is the right time to bring in a CEO of Euan's calibre,” said Dunkerton, in a statement. “Having worked with him on the Board for two years, I am certain our skills will be complementary and look forward to delivering the continued growth of the Superdry brand together.”

The group added that Sutherland will be instrumental in delivering SuperGroup's growth plans, as he has already gained an in-depth understanding of the business, its strategy and its culture during the two years he has been a non-executive director.

Sutherland's new appointment comes after he walked out on his previous role at the Co-operative Group this March, calling the company “ungovernable,” after the Observer published an article which highlighted details of his 6.6 million pound salary for 2013 an 2014. At the time Sutherland has left his role amidst a heated boardroom argument.

In his new role at SuperGroup, Sutherland is set to receive an annual pay of 675,000 pounds, as well as extra bonuses which could boost his first-year salary to 3.7 million pounds, depending on the group's performance, personal targets and Sutherland's ongoing employment.

“The business is at an exciting stage of its development and has numerous opportunities for growth...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,” said Sutherland on his new role.

“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 roll out of the Superdry brand.”