Iain McGeoch, after nearly 50 years with the family-owned value fashion retailer M&Co, is stepping down from his role as Chairman and Chief Executive. He built up the business with his brother Lennie from six pawnbroking shops into the 280-store clothing chain it is today. his son, Andy, will succeed him as chief executive, whilst he will take an active non-executive role. His other son, Neil, joins the board as Property Director. Steve Knott is taking the role of chairman.
These changes were unveiled when the retailer announced an EBITDA of £6m for the year ending in February and an operating profit of £1m.