Over-50s insurer Saga has found a new chief executive in the former boss of Superdry, Euan Sutherland.
Sutherland will start at Saga on 6 January, replacing retiring boss Lance Batchelor, who will leave the business at the end of January.
Sutherland recently quit the top spot at Superdry after losing to co-founder Julian Dunkerton in a bitter board battle.
Shareholders narrowly voted to back Dunkerton’s return to the board in a tense meeting where investors slammed management’s attempts to fix the struggling fashion brand as “poor and pathetic”.
Sutherland and the rest of Superdry’s management immediately quit the company.
However, Saga praised Sutherland’s stint at The Co-op Group, where heled a transformation programme to improve profitability at its funeral, insurance and retail arms.
“I am very pleased that Euan is joining Saga at this important time in the development of the business,” chairman Patrick O’Sullivan said. “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 CEO of Insurance and Gilles Normand as COO, the board has every confidence in the team now in place to lead and accelerate Saga’s turnaround strategy.”
Still a non-executive director at Britvic, Sutherland also served as group COO and CEO at B&Q owner Kingfisher.
“I am hugely excited to join Saga,” he said. “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.”
Main image credit: Saga