Poundland (PLND) chief executive Jim McCarthy has spent a decade atop the discount retailer but he might wish he'd announced his retirement a little sooner judging by the recent share price performance.
The group's impressive rise to prominence is no doubt down in large part to Mr McCarthy's business acumen but the stock has fallen 37 per cent since it announced the takeover of rival 99p Stores in September, where costs related to the purchase have been rising.
The job of digesting its acquisition will now fall to Kevin O'Byrne, former chief executive of home improvement group B&Q, who joins in April.
He'll need to get going too, considering lower high street footfall means profits for the year to March 2016 are expected to be towards the lower end of the £39.8m-£45.8m range of market expectations.
