Co-op chief takes over at Fenwick
Outgoing Co-op CEO Richard Pennycook has been revealed as the new chairman of department store group Fenwick.
Pennycook, who is credited with saving Co-op as it endured tough trading during the recession, will take over from Mark Fenwick who intends to step down in May.
The appointment comes days after Pennycook announced his departure from Co-op and he is believed to be the first non-family member to take the reins at the retailer, which was founded in 1882 in Newcastle upon Tyne by John James Fenwick.
Today the group has nine Fenwick stores including its flagship on London's Bond Street as well as Bentalls stores in Kingston upon Thames and Bracknell.
Pennycook said he was leaving Co-op as he wanted to take on several part-time roles. Mark Fenwick is the fifth generation family member to head the business, however the family still retains a high-profile presence as Adam Fenwick will remain as managing director.
