AUS: Metcash names Morrice CEO
Metcash names CEO
Australian wholesaler Metcash has indicated that Ian Morrice will take the reigns as CEO, replacing Andrew Reitzer who plans to retire at the end of June.
Morrice, who is currently a Metcash director, has previously served as CEO of New Zealand's Warehouse Group as well as holding management positions at UK retailers such as Kingfisher Group and Dixsons.
"Ian knows what it's like to work in a fiercely competitive environment. He was schooled in the tough UK retail sector... and has an intimate working knowledge of the Australian market," Metcash chairman Peter Barnes commented.
Morrice suggested that his priority as CEO would be the "continued support" of independent retailers in Australia.
IAN MORRICE APPOINTED CEO OF METCASH LIMITED
The Board of Metcash Limited today announced the appointment of Ian Morrice as Chief Executive Officer, effective 30 June 2013. Mr Morrice will replace Andrew Reitzer who announced in September 2012 his intention to retire on 30 June.
Mr Morrice, 52, has more than 30 years of retail experience, including as managing director and senior executive for some of the United Kingdom's leading retailers. He was Group CEO and Managing Director of New Zealand's Warehouse Group from 2004 until 2011. Mr Morrice has been a Director of Metcash since June 2012.
Metcash Chairman Peter Barnes said Mr Morrice's strategic and retail expertise were key attributes the Board was looking for in Metcash's new leader.
"We are very fortunate to have had a depth of senior talent within Metcash, including on the Board, from which to choose a successor to Andrew Reitzer," Mr Barnes said. "Ian inherits a company that is vastly stronger than when Andrew became CEO in 1998. Metcash has become a champion of independent retailers and has gone from an underlying loss of $3.1m in 1998 to an underlying profit of $262.5m in 2012. It is a great platform for Ian to build on.
"Ian knows what it's like to work in a fiercely competitive environment. He was schooled in the tough UK retail sector in companies such as Dixons and The Kingfisher Group, and has an intimate working knowledge of the Australian market."
Mr Morrice said a priority would be to continue to support and grow Metcash's independent retailer businesses in all the industries in which they operated. "I am very excited to have the opportunity to lead such a dynamic company, which supports and promotes so many independent retailers across Australia," Mr Morrice said.
"Metcash has a strong and committed team who really understand our business and those of our independent retail customers. We will work hard to drive both network and volume growth at our customers to ensure our partnership is even more compelling."
Mr Reitzer said he was delighted to be leaving the company in good hands, and was proud that he would depart with Metcash in significantly better shape than when he became CEO.
"Metcash has only become stronger in recent years and I am confident I am handing a company in terrific shape to Ian and the rest of the Metcash team. I am very proud of what we have achieved together since 1998."
Mr Reitzer will step down as CEO on 30 June 2013 and will cease employment on 30 September 2013. As previously announced he will be retained as a consultant to the Board for three years.
Original source: Metcash
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