Euan Sutherland, who walked out of the Co-operative Group after 10 months in charge, has re-emerged as the new chief executive of SuperGroup, the company behind the Superdry brand worn by David Beckham and other high-profile celebrities.
Sutherland, who has been a SuperGroup non-executive director for two years, will take over immediately. Julian Dunkerton, the chief executive who launched the company, will take on the title founder and product brand director.
SuperGroup said Sutherland’s appointment would allow Dunkerton and the chief designer, James Holder, more time to dream up new products and protecting the brand.
Sutherland quit the Co-op, calling the group “ungovernable” in March after the Observer published details of his £6.6m pay deal for 2013 and 2014. The former B&Q boss attacked “an individual or individuals” for trying to undermine him.
At SuperGroup, Sutherland will receive an annual salary of £675,000 plus extras that could take his first-year earnings to £3.7m subject to performance targets.
Lord Myners, who wrote a report on the Co-op’s governance, defended Sutherland from his critics within the Co-op and said his sudden departure after rescuing the mutual group was a tragedy.
Peter Bamford, Supergroup’s chairman, said: “Euan’s appointment marks another important step in the continued evolution of SuperGroup. Euan has the stature, skills, experience and personal style to work in partnership with Julian and lead the team through the next stage of the company’s development.”
