Top 50 Indie Penny on the Move has experienced huge growth over recent years, with its portfolio rising from 14 forecourts a decade ago to around 100 today. Now, big changes are afoot at the top of the firm, so we caught up with its new CEO to find out what’s what.
Vicky Hennessy first worked with Penny as a consultant, bringing her retail and CAD (computer aided design) skills to bear to help managing director and founder David Penny come up with the paradigm that has proven core to the firm’s growth: turning old, tired acquisitions into modern, thriving Penny on the Move forecourts.
“David had a number of sites he was looking to develop. I helped him do the first one, and we proved the concept,” Vicky explains.
The success this model brought saw David offer Vicky a full-time position, and in 2015 she joined the firm as business development manager, expanding on the work she first undertook as a contractor: “I would look at merchandising, product layout, not just the actual design and refit of the shops”, Vicky explains, adding: “we did that at a number of sites, and it worked: they turned around.”
These successes saw Vicky promoted to chief operations officer in 2022, but this wasn’t to be the end of her rise within the firm: she recently took the position of chief executive officer, with David still very much involved with the brand that bears his name, albeit from a slightly more strategic position.
“He’s not stepping back: David will still be involved in some of the decision making,” Vicky makes clear. “But I’ll oversee day-to-day operations of the company as a whole, overlooking our different departments – loss prevention, head office, HR, so on.”
David will also be closely involved in Penny on the Move’s valeting operations. “That’s always been a massive passion of his, so he’ll be helping drive that forward,” Vicky says.
The retirement of general manager Keith Jewers earlier in the year was part of the reason for these changes, she adds. “We had to look at our hierarchy, and who’s in what position. It was partly led by that, and partly by what David wanted to do.”
Keith’s retirement and David handing over some of the company’s reins to Vicky aren’t the only changes Penny on the Move has gone through of late, though. Former headteacher and banker Tony Jackson was brought in as chief commercial officer in September 2024, with Vicky explaining that Tony will “predominantly be working with our teams at head office, supporting them and our company agenda”. Emma Shell, meanwhile, who has been with Penny for 17 years, has been promoted from lead project manager to head of compliance and business development.
The final piece of the Penny puzzle concerns David’s son Tom, who leaves a successful career in professional rugby union with Newcastle Falcons to join his father’s firm as property manager.
“After a few injuries in rugby he’s decided to take a leap of faith into a career move, and we’re delighted he’ll be joining the team,” Vicky says, adding that Tom will be looking after the company’s property interests, dealing with landlords and tenants, and seeking to optimise the firm’s real-estate holdings.
That’s the personnel picture at the top of Penny – what will the new management be prioritising in the future?
“We have said we will slow down a little,” Vicky says. “Just to get the house in order and look at efficiencies. We’ve done so much over the years, and if there are opportunities, we’re still looking for them, but we’re not looking to expand in the same numbers.
“Our business strategy for the year is ‘making things simple but not simpler,’” Vicky says, borrowing a quote from Einstein about ensuring that things are no more complex than is essential.
One of the strands of this strategy centres on AI and software, she explains: “The new National Insurance costs and wage increases are going to be really big for everyone, and we want to use technology to help us: what systems are available, and how can new technologies help us find efficiencies? We’ve also got a significant agenda with our people, offering more upskilling and training opportunities for our teams.”
And in terms of a more general approach? What makes the Penny brand tick? “Our overall strategy is to be the ultimate convenience,” Vicky says. “People are in a rush, they’re busy, and petrol stations have got the locations to serve that convenience. What else can you do when you’re there? The industry has always had to diversify, so what else can we add to sites to make people’s lives easier?”
On a more personal level, Vicky is well aware she is something of a minority at her level of seniority, and is determined to be an advocate for women in the industry.
“There aren’t enough of us in senior roles,” she says. “I am very proud to be an advocate of women in this industry.”
