The Co-op boss who quit the mutual because it was “ungovernable” has taken on a new role running the Superdry fashion brand.
Euan Sutherland’s appointment at SuperGroup marks his return to the retail sector, having previously spent five years in charge of B&Q and Screwfix.
Mr Sutherland’s arrival will allow SuperGroup’s co-founder and boss Julian Dunkerton to focus on a newly created role of product and brand director.
Mr Dunkerton set up the business as Cult Clothing from a Cheltenham market stall in 1985 before he joined forces with Bench designer James Holder to develop Superdry in 2003. The business now generates annual revenues of £430m and made pre-tax profits of £45m in its last financial year.
The company said the appointment of an outsider to run the business represented the “continued evolution” of SuperGroup.
Chairman Peter Bamford said: “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.”
Mr Sutherland has spent two years on the SuperGroup board as a non-executive director and will start in the £675,000-a-year role immediately.
He said: “Julian and I work well together and have a shared ambition to succeed with the global roll-out of the Superdry brand.”
Mr Sutherland left the Co-op in March after using Facebook to blame “an individual, or individuals” at the top of the group for seeking to undermine him by revealing details of his £3.66m pay deal to a Sunday newspaper.
His departure after less than a year at the helm triggered a major review of corporate governance at the mutual and led to major reforms announced in the summer. Mr Sutherland was also involved in securing the recapitalisation of the loss-making Co-op Bank.