Euan Angus Sutherland (born February 1969) is a

Scottish Scottish usually refers to something of, from, or related to Scotland, including: *Scottish Gaelic, a Celtic Goidelic language of the Indo-European language family native to Scotland *Scottish English *Scottish national identity, the Scottish ide ...

businessman who was the Chief Executive of SuperGroup plc and

Saga plc Saga is a British company focused on serving the needs of those aged 50 and over. It has 2.7 million customers. The company operates sites on the Kent and Sussex coast: Enbrook Park and Priory Square. It is listed on the London Stock Exchange. ...

. He served as the chief executive of Saga from January 2020 to November 2023.

Career

After training in marketing with

Coca-Cola Coca-Cola, or Coke, is a cola soft drink manufactured by the Coca-Cola Company. In 2013, Coke products were sold in over 200 countries and territories worldwide, with consumers drinking more than 1.8 billion company beverage servings ...

, he worked in marketing a retail management positions with Mars Confectionery,

Matalan Matalan Retail Ltd is a British clothing and homewares retailer based in Knowsley, Merseyside, founded by John Hargreaves in 1985. In August 1988, its operations director at the time, Duncan Sullivan, transformed Matalan into an out-of-town wa ...

Currys Currys (branded as Currys PC World between 2010 and 2021) is a British electrical retailer and aftercare service provider operating in the United Kingdom and Ireland, specialising in white goods, consumer electronics, computers and mobile phon ...

and

Superdrug Superdrug Stores plc (trading as Superdrug) is a health and beauty retailer in the United Kingdom, and the second largest behind Boots UK. The company is owned by AS Watson (Health & Beauty UK) Limited which is part of the A.S. Watson Group. ...

. He then joined

Kingfisher plc Kingfisher plc is a British Multinational corporation, multinational retailing company headquartered in London, England. It has over 1,300 stores in nine countries, and its brands include B&Q, Castorama, Brico Dépôt and Screwfix. Kingfisher i ...

, rising to the position of chief operating officer.

Co-operative Group

Touted as a replacement for Kingfisher CEO Ian Cheshire, he joined the Co-operative Group in April 2013, taking over from Peter Marks as chief executive. Due to inadequate capital levels in its banking group,

Moody's Moody's Ratings, previously and still legally known as Moody's Investors Service and often referred to as Moody's, is the bond credit rating business of Moody's Corporation, representing the company's traditional line of business and its histo ...

downgraded the bank's

credit rating A credit rating is an evaluation of the credit risk of a prospective debtor (an individual, a business, company or a government). It is the practice of predicting or forecasting the ability of a supposed debtor to pay back the debt or default. The ...

by six notches to junk status (Ba3) and the bank's chief executive Barry Tootell resigned. The difficulties stemmed largely from the commercial loans of the

Britannia Building Society The Britannia Building Society was founded as the Leek & Moorlands Building Society in Leek in 1856. It expanded steadily as a regional society until the late 1950s when it began a major expansion drive, partly through branch openings but also s ...

, acquired in the 2009 merger. Sutherland restructured, 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. On 5 June Richard Pennycook, former finance director of

Morrisons Wm Morrison Supermarkets Limited, trading as Morrisons, is the List of supermarket chains in the United Kingdom, fifth largest supermarket chain in the United Kingdom. As of 2021, the company had 497 supermarkets across England, Wales and Sco ...

, was named Co-operative Group's finance director, and Richard Pym, former chief executive of the

Alliance & Leicester Alliance & Leicester plc was a British bank and former building society, formed by the merger in 1985 of the Alliance Building Society and the Leicester Building Society. The business Demutualisation, demutualised in the middle of 1997, when ...

bank, as chair of the Co-operative Banking Group and the Co-operative Bank. In March 2014, Sutherland resigned from The Co-operative because he said "I now feel that until the Group adopts professional and commercial governance it will be impossible to implement what my team and I believe are the necessary changes and reforms to renew the Group and give it a relevant and sustainable future". He was replaced by

Richard Pennycook Richard John Pennycook (born February 1964) was chief executive officer of the Co-operative Group. Pennycook took the position as CEO in 2014 after being named Chief Financial Officer in 2013. In 2013, he became Chairman of The Hut Group, an ...

, then chief financial officer, who became the group's interim Chief Executive.

Supergroup

On 22 October 2014, it was announced that Sutherland was CEO of SuperGroup plc. On 2 April 2019, Sutherland resigned as CEO of SuperGroup plc after founder Julian Dunkerton won a bid to be reinstated to the SuperGroup plc board.

Saga

In December 2019, Saga appointed Sutherland as chief executive. At the time, the insurance business, which accounted for the overwhelming majority of the group's profits, needed to dramatically slash premiums to stay competitive. In November 2023, Sutherland resigned from Saga with immediate effect.

Personal life

Sutherland is married with three sons. His interests include

rugby union Rugby union football, commonly known simply as rugby union in English-speaking countries and rugby 15/XV in non-English-speaking world, Anglophone Europe, or often just rugby, is a Contact sport#Terminology, close-contact team sport that orig ...

and

Formula One Formula One (F1) is the highest class of worldwide racing for open-wheel single-seater formula Auto racing, racing cars sanctioned by the Fédération Internationale de l'Automobile (FIA). The FIA Formula One World Championship has been one ...

References

{{DEFAULTSORT:Sutherland, Euan 1969 births Living people British chief executives of financial services companies Scottish chief executives 20th-century Scottish businesspeople 21st-century Scottish businesspeople