Richard Pennycook
Awards & Honours
1
Awards Won
1
Honours
1
Records
Richard Pennycook's career is distinguished by his role in rescuing the Co-operative Group from near-collapse, a feat that earned him the Retail Leader of the Year award in 2016. His reputation for financial prudence and ethical leadership was further cemented when he voluntarily took a 60% pay cut in 2016, a rare gesture among FTSE-level executives. In 2020, he was appointed a Commander of the Order of the British Empire for services to retail, a recognition of his contributions to the sector.
Awards
Honours & Distinctions
Commander of the Order of the British Empire (CBE)
Awarded in the Birthday Honours for services to retail.
Records & Feats
First CEO to voluntarily request a 60% pay cut at a major UK mutual
In 2016, Pennycook publicly asked for a 60% reduction in his total pay package at the Co-operative Group, an unprecedented move for a FTSE-level CEO.