Euan Sutherland appointed as Saga chief executive

The former Superdry and Kingfisher chief executive will take on his new role in the new year with effect from January 6.

Saga group’s current chief executive Lance Batchelor is retiring and will continue as a statutory director until he leaves on January 31, 2020.

Sutherland was most recently chief executive of Superdry for five years but quit his role in April after founder Julian Dunkerton made a dramatic return.

The ex- Superdry boss has also held chief executive positions at Kingfisher and the Co-op group.

Euan Sutherland said: “I am hugely excited to join Saga. This is a unique British brand that has a strong heritage, great people and significant potential.

“I look forward to working with the board and the whole of the Saga team to further unlock this potential and deliver for our customers and shareholders.”

Saga chair Patrick O’Sullivan said: “I am very pleased that Euan is joining Saga at this important time in the development of the business.

“He has substantial experience across several consumer-facing businesses that will be invaluable as we continue the Saga transformation, with our customers at the heart of our strategy.

“Alongside the recent appointments of Cheryl Agius as chief executive of Insurance and Gilles Normand as chief operating officer, the board has every confidence in the team now in place to lead and accelerate Saga’s turnaround strategy.

“On behalf of the board, I would like to thank Lance for focusing on reinvestment over the last six years and for launching our membership scheme, Saga Possibilities, and wish him well for the future.”