Boparan appoints turnaround manager as Chairman

All,

Richard Pennycook is a turnaround manager who previously stabilised the Co-op Group after its bank had hit trouble in 2013 and its supermarket chain bled market share to Aldi and Lidl.

He has overseen asset sales, debt/equity swaps of subsidiaries (Co-Op Bank), revised corporate governance structures and turned around operations. 

Sounds like a playbook for Boparan.

Wolfgang