THE UK’s biggest member-owned company, Co-op, has appointed its first female chief executive Shirine Khoury-Haq in the organisation’s history.
She is the first female and a person of colour who holds the position. She was previously the chief financial officer and interim boss of Co-op.
Khoury-Haq, 57, was born in Australia and raised in the US. She held executive positions at IBM, McDonald’s, and Lloyd’s of London.
She was chief operations officer of Lloyds of London for five years and joined the Co-op in 2019.
“I am proud and honoured to lead this wonderful and unique organisation,” Khoury-Haq said. “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.”
The boardroom transformation occurs when the mutual issues a warning about difficult times, including inflationary pressure and economic instability.
Co-op is currently facing a challenging period coming out of the Covid-19 pandemic.
With over 60,000 employees, the 138-year-old Co-op is among the biggest cooperatives in the world. More than 8,000 convenience stores are supplied by the group’s 2,600 outlets. It also operates a funeral business.
Steve Murrells, the previous CEO of Co-op, stepped down in May following the company’s annual general meeting.
With the most recent confirmation, Khoury-Haq joins Dame Sharon White, co-chief executive of John Lewis, and Katie Bickerstaffe, co-chief executive of Marks & Spencer, as the leading candidates to succeed Murrells.
Shirine Khoury-Haq attended the Australian National University after completing high school there and earned a degree in accounting and economics there. She moved to the US and later earned a certification that qualified her to practise as a certified public accountant there. Later earned an MBA at Ohio State University and was funded by IBM to participate in a leadership programme at the University of West England’s Bristol Business School in the UK.