Poundland owner Pepco Group has named Trevor Masters as chief executive officer.
Masters had been performing the role on an interim basis since the end of March after then chief executive Andy Bond stepped down due to health reasons.
Having previously spent 30 years at Tesco, Masters joined Pepco in November 2019 as a managing director, before being appointed as a chief operating officer earlier this year.
During his two and a half years at the company, he has "spearheaded the strong expansion of the brand," according to a previous statement.
That includes increasing the number of stores from 1,800 to 2,300, as well as operating in 15 countries and entering Italy, Serbia, Spain and Austria as of last October.
"The decision follows an extensive search process commissioned by the board with the support of an external firm. The board concluded that Trevor was the outstanding candidate for the role," Pepco said.
Chief financial Nick Wharton will also be stepping down at the end of the month, also due to health reasons, with Mat Ankers taking over as interim chief financial officer.
Pepco listed on the Warsaw stock market last May with a valuation of US$5.4bn.
Yesterday, it announced first-half revenue grew by 17.5% and promised to “protect prices” as the cost of living crisis worsens.