McColl’s boss Miller exits as rescue talks progress

McColl’s boss Jonathan Miller has stepped down after more than three decades with the business as it scrambles to secure fresh investment.

McColl's new chief executive Jonathan Miller

Jonathan Miller has departed McColl’s with immediate effect

The c-store operator said Miller had departed with immediate effect and has been replaced on an interim basis by its current chief operating officer, Karen Bird.

Chair Angus Porter has become executive chair on a temporary basis, while finance boss Giles David will also take on additional responsibilities.

McColl’s said the search for a new chief executive was already “in progress” and that it hoped to name Miller’s permanent successor “in the near future”.

Miller’s abrupt exit comes as McColl’s bids to secure new funding following speculation that it was battling to stave off administration.

The retailer admitted last month that it had received interest from potential buyers, which was subsequently withdrawn, and warned that profits would be “slightly behind” expectations after trade was hit by the spread of the Covid-19 Omicron variant.

McColl’s insisted this morning that it “remains in ongoing dialogue” with lenders and “continues to believe that a financing solution will be found”.

Porter said: “On behalf of the board, I want to take this opportunity to thank Jonathan for the immense contribution he has made to McColl’s and to pay tribute to his commitment in leading the business over the course of more than 30 years. We wish him all the very best in the future.

“As we discuss with our stakeholders the transformation of our business to a grocery-led convenience offer, Jonathan and the board have agreed that now is the right time to bring in a new chief executive to lead the business into a new phase.

“In the meantime, we have a strong management team in place to take the business forward and we are confident in our strategy to capitalise on the opportunity in the convenience sector in the years ahead.”

Miller said: “It has been an enormous privilege to work for McColl’s for the last 30 years, most recently leading the business and transforming our offer in partnership with Morrisons.”

He added: “I remain a significant shareholder and I leave confident that, with its clearly defined, convenience-led strategy and strong partnership with Morrisons, McColl’s will continue to play a vital role at the heart of local communities across the UK.”