Phil Ponsonby will assume the role when veteran leader Ben Reid retires at the end of July.

Outgoing Reid has spearheaded the co-operative movement for more than 40 years.

He has led the expansion of Midcounties into the country’s largest co-operative with 670,000 members.

Midcounties’ sales grew 10.2% to £1.48bn in the year to January 27 and delivered operational profits of £13.3m, up 16.5%.

Ponsonby is currently chief executive of trading at Midcounties. He joined from Southern Co-operative in 2015.

Helen Wiseman, Midcounties president, said: “During his career in the co-operative movement, including almost 30 years as a chief executive, Ben has served West Midlands Co-operative Society and, over the last 12 years, Midcounties, with distinction.

“The society has grown considerably under his leadership, expanding its reach while upholding co-operative values. The board would like to thank Ben for his considerable contribution.”

Of Ponsonby’s appointment, Wiseman added: “Since joining Midcounties, he has demonstrated a real instinct for our businesses and a deep commitment to the co-operative model - attributes that will serve the society well as we look to build for the future.”