Poundland owner signs retail heavyweight

DISCOUNT retail group Pepco today hired an industry heavyweight before a potential float next year. The owner of Poundland and Pep&Co appointed former Tesco international chief Trevor Masters, who spent more than 30 years with the grocer, to be managing director, replacing long-standing Rob Taylor. The group has 2700 stores and sparked rumours of a £4 billion float with a recent rebrand. It is majority owned by troubled South African group Steinhoff.