WHS
30/03/2015 17:03
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REL: 1703 HRS The Warehouse Group Limited
OFFICE: WHS: The Warehouse Group Announces Group CEO Succession Plan
The Warehouse Group Announces Group CEO Succession Plan
As part of The Warehouse Group's annual succession planning cycle last year,
Group CEO Mark Powell indicated to the Board that he did not foresee himself
continuing in the role beyond February 2016. As a result of subsequent
discussion, The Warehouse Group has announced today that a formal process has
been initiated to recruit a new Group CEO. This will allow up to ten months
to ensure a planned and orderly succession process.
Mr Powell said "when I took this role I never saw myself doing it for more
than the four to five years required to establish a new strategic platform
and culture for the future. The last four years have been personally
fulfilling. The Group is now very different. Customers and the team have seen
the positive difference. The challenge in the next strategic cycle is to
fully translate this platform into profitable growth for our shareholders in
the future. I know we have the team in place to do this"
Mark added "I have many interests outside of this role and will not be
seeking another executive role. Instead I will look to apply my knowledge,
skills and experience to help where I can in my areas of passion, both in the
faith based not-for-profit sector and as a Professional Company Director.
The Warehouse Group Chair Ted Van Arkel said "I want to thank Mark for his
leadership of the Group during a period of unprecedented change. Much has
been achieved and I am confident that the strong base that has been built has
set us up for future success. Mark's commitment to work with us over the
next ten months will ensure there is smooth leadership succession for the
Group."
-ends-
About The Warehouse Group
The Warehouse Group Limited comprises 92 The Warehouse stores, 79 Noel
Leeming stores, 64 Warehouse Stationery stores and 10 Torpedo7 stores in New
Zealand and several online retailers. In FY14 the company had a turnover of
$2.6 billion and employs over 11,500 people.
Contact details regarding this announcement:
Media - For Mark Powell, Group CEO or Ted Van Arkel, Chair,
contact via Julia Morton on +64 (0)21 875 388 or
[email protected]
End CA:00262484 For:WHS Type:OFFICE Time:2015-03-30 17:04:00
