Business Irish

Monday 14 October 2019

Musgrave's veteran chairman Seamus Scally retires at 71

Seamus Scally
Seamus Scally
John Mulligan

John Mulligan

Musgrave veteran Seamus Scally has retired as chairman of the Cork-based retail and wholesale group and has been succeeded by board member Peter Lacy, the Irish Independent has learned.

Staff at the group were recently informed of the change, with Mr Scally having handed over the reins at the end of December.

Mr Scally (71) is a former chief executive of Musgrave, which is privately owned. He has been non-executive chairman at the company since 2010.

He spent most of his working career with the group, which controls the SuperValu and Centra brands in Ireland and Budgens in the UK.

He was the first non-family member chief executive of Musgrave, a role he took on in 1997, and oversaw considerable expansion of the group.

He was succeeded as chief executive in 2007 by incumbent Chris Martin, who was previously Musgrave's financial director.

Mr Martin said that Mr Scally had made an "immense contribution" to the Musgrave group.

Peter Lacy (63) was appointed to the board of Musgrave in 2006. He's a former partner at PricewaterhouseCoopers, and retired from the accounting firm that same year.

Mr Martin said Mr Lacy had brought "unique insights and expertise" to Musgrave over the past number of years.

Musgrave generated revenue of €4.8bn in 2013, while pre-tax profit fell 16pc to €60m as it encountered challenging conditions in the UK.

Irish Independent

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