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UK's Poundland says CEO Jim McCarthy to retire

Reuters - UK Focus

LONDON, March 2 (Reuters) - British discount retailer Poundland said on Wednesday Chief Executive Jim McCarthy will retire in September after a decade in the job and be succeeded by Kevin O'Byrne, the former boss of home improvement retailer B&Q.

Poundland said O'Byrne would join the board as chief executive designate on April 4 and become CEO on July 1.

McCarthy, who led Poundland's flotation on the London Stock Exchange in 2014, will remain available to the board until his retirement at the firm's annual shareholder meeting in September.

(Reporting by James Davey; editing by Jason Neely)