Midcounties Co-op appoints Peter Kelly as chief financial officer

The Midcounties Co-operative has announced the appointment of Peter Kelly as chief financial officer.

Kelly has been with the independent co-operative since 2019, most recently serving as head of finance and, since December 2021 acting as interim chief financial officer. He replaces Peter Dubois, who is leaving in May after 26 years with the society.

In his new role Kelly will support Midcounties Co-op’s group chief executive, Phil Ponsonby, in ensuring the right financial foundations are in place to support the society’s growth agenda in 2022 and beyond.

Midcounties, one of the largest independent co-operative societies in the UK with over 700,000 members and almost 8,000 colleagues, has already announced plans to invest more than £5 million in opening ten new food stores in 2022.

In addition, it looks to open three new nurseries with a total investment of almost £2 million this year, part of plans to double the size of the society’s nursery portfolio over the next five years. The society is also investing significantly in transforming its travel business and further development of its digital propositions in healthcare and utility services.

The consumer co-operative said Kelly has been instrumental in reorganising its financial functions and building firm relations with funding partners. Prior to joining Midcounties, he held senior positions at a number of retailers including Halfords, Monsoon and Dunelm.

Phil Ponsonby, chief executive at the Midcounties Co-operative, said: “I am delighted that Peter is joining our executive team at such an exciting time as we look to grow the organisation through investment and partnerships. I know that Peter shares the Board’s ambition to make a positive difference across the communities in which we trade and to play a key role in transforming the Society to meet the needs of a changing world and for future generations.”

Kelly commented: “I am excited to be joining the executive team at this stage and relish being part of our ambitious growth plans. I joined the society in 2019 and have worked with everyone to face into the unprecedented challenges presented. I hope that, looking forward, we can thrive and deliver even more for our members and communities. I would like to thank Peter Dubois for giving me the opportunity here at Midcounties and for his continued support.”

Kelly will take up his new role from 22 May and over time will also take on executive responsibility for IT within the society.