Euan Sutherland

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Euan Sutherland

Nationality	British
Ethnicity	White British
Occupation	Businessman
Title	Chief Executive, Co-operative Group
Term	2013–present
Predecessor	Peter Marks
Successor	Incumbent
Children	3

For the gay rights activist, see Sutherland v United Kingdom

Euan Sutherland is a Scottish businessman, currently the Chief Executive of the Co-operative Group.

Career

After training in marketing with Coca Cola, he worked in marketing a retail management positions with Mars Confectionery, Matalan, Currys and Superdrug. He then joined Kingfisher plc, rising to the position of Chief Operating Officer.^[1]

Co-opertaive Group

Touted as a replacement for Kingfisher CEO Ian Cheshire, he joined the Co-oprative Group in April 2013, taking over from Peter Marks as chief executive.^[2]

Due to inadequate capital levels in its banking group, Moody's downgraded the bank's credit rating by six notches to junk status (Ba3) and the bank's chief executive Barry Tootell resigned.^[3] The difficulties stemed largely from the commercial loans of the Britannia Building Society, acquired in the 2009 merger.^[4]

Sutherland restructed, by intending to sell the life insurance business to Royal London releasing about £200m in capital, and planning to dispose of its other insurance business.^[2] On 5 June Richard Pennycook, former finance director of Morrisons, was named Co-operative Group's finance director, and Richard Pym, former chief executive of the Alliance & Leicester bank, as chair of the Co-operative Banking Group and the Co-operative Bank.^[5]

Personal life

Sutherland is married with three sons.^[1] His interest include Rugby Union and Formula One.^[1]

References

↑ 1.0 1.1 1.2 Nicola Harrison (19 December 2012). "Profile: New Co-op Group chief executive Euan Sutherland". Retail Week. Retrieved 18 November 2013.
↑ 2.0 2.1 Anne-Sylvaine Chassany and Jennifer Thompson (2 June 2013). "Co-op weighs up banking arm rescue plan". Financial Times. Retrieved 4 June 2013.
↑ Rupert Neate and Jill Treanor (2013-05-10). "Co-operative Bank rushes to reassure customers after downgrade". The Guardian.
↑ Rebecca Clancy (5 June 2013). "Crisis-hit Co-op hires ex-Morrisons finance chief Richard Pennycook and banker Richard Pym for restructuring". Daily Telegraph. Retrieved 5 June 2013.
↑ Adam Jones (5 June 2013). "Co-op makes fresh changes at the top". Financial Times. Retrieved 5 June 2013.

v t e The Co-operative Group

Retail	The Co-operative Food The Co-operative Pharmacy The Co-operative Travel The Co-operative Funeralcare The Co-operative Banking Group (The Co-operative Bank The Co-operative Insurance Smile Britannia) The Co-operative Legal Services The Co-operative Electrical

Wholesale	The Co-operative Farms Co-operative Retail Trading Group

People	Euan Sutherland (Chief Executive) Len Wardle (Chair)

Headquarters	Co-operative Insurance Tower 1 Angel Square at NOMA, Manchester

Defunct	The Co-operative Motor Group Associated Co-operative Creameries Co-operative Travel Trading Group

‹ The template below (Company template tagline) is being considered for deletion. See templates for discussion to help reach a consensus.› Annual revenue £11.9 billion (2010) Employees 123,000 Website www.co-operative.coop

Persondata
Name	Sutherland, Euan
Alternative names
Short description	Businessman
Date of birth
Place of birth
Date of death
Place of death

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