Co-op names Shirine Khoury-Haq as permanent chief executive

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The Co-op has appointed Shirine Khoury-Haq as its new permanent group chief executive.

Shirine Khoury-Haq

Khoury-Haq takes the role at a pivotal point for the Co-op

Khoury-Haq had been leading the mutual on an interim basis, following the abrupt departure of former boss Steve Murrells in the spring.

The permanent appointment means Khoury-Haq becomes the Co-op’s first female boss in its 159-year history.

Khoury-Haq joined the Co-op leadership team in August 2019, serving as chief financial officer and chief executive of its Life Services division, before stepping into the top job.

Before joining the Co-op, Khoury-Haq was chief operating officer for the Lloyd’s insurance market and held senior positions at tech titan IBM, fast-food giant McDonald’s and insurer Catlin Group.

She also served as a non-executive director at the Post Office.

Khoury-Haq takes on the role at a pivotal point in time for the group. Its core convenience food business has come under strain during the cost-of-living crisis as shoppers seek cheaper alternatives like discount duo Aldi and Lidl.

The Co-op has also been beset by issues and is grappling to cut costs. Last month it axed 400 head office jobs – 10% of its central workforce – and has also slashed other spending by scrapping its monthly magazine and taking back company phones from staff members who don’t deal with external clients on a daily basis.

Murrells’ departure came following the exit of food boss Jo Whitfield on a four-month career break, though industry insiders suggest Whitfield may not return to her role as initially planned.

Khoury-Haq admitted there was “a lot to do” as she stepped into the top job on a permanent basis.

She said: “I am proud and honoured to lead this wonderful and unique organisation. The Co-op is the original business with purpose and I am looking forward to delivering even more on this promise, working to co-operate for a fairer world.

“There is a lot to do but we also have so much to build upon. Our Food and Life Services businesses are leaders in their markets, we have a differentiated vision and amazing Co-op colleagues, with links into communities and other co-operatives. Together, we will continue to succeed and deliver for the benefit of our members, our customers and their communities.”

Co-op chair Allan Leighton added: “I’m delighted that Shirine has accepted the invitation to lead and develop our Co-op into the future, tackling the challenges presented by the highly uncertain and volatile external environment.

“Shirine has proven leadership qualities and a deep level of transformational experience, and the board has been impressed by her desire to prioritise on activity that will deliver a strong financial Co-op for our members, whilst maintaining a focus on our vision and wider social commitments.”