Metcash confirms appointment of new CEO
Metcash Limited has announced that former Tesco executive Jeff Adams will succeed Ian Morrice as the company’s Group Chief Executive Officer.
Last month Morrice announced that he had told the Metcash board that he intended to retire in 2018 after completing five years in the CEO role.
Adams joins Metcash having held a number of senior positions with Tesco PLC over a 20-year period, including Director of Operations of Tesco Express in the UK, Retail Operations Director of Fresh & Easy in the US and CEO of Tesco Lotus in Thailand. He left Tesco in 2015 and since then Adams has operated as a business consultant with a number of organisations across the US and Europe.
Metcash Chairman, Rob Murray, said he was delighted that the group’s extensive search to replace Morrice has resulted in hiring Adams.
“We are delighted to have a person of Jeff’s calibre and experience join us,” Murray said. “Jeff has a lifelong passion for the retail industry, and is ideally suited to lead the company’s continued focus on ensuring the competitiveness and success of independent retailers.
“We undertook an extensive internal and external global search for a successor to Ian. Jeff’s deep international experience, including a strong track record in difficult retail market conditions made him a standout candidate for this role,” Murray added.
Adams said: “I am deeply passionate about the independent retail sector and am honoured to be joining a company whose core purpose is building their success. I look forward to using my experience to take our plans to the next level.
“Independent retailing is in my family, and I understand the vital role that independents play in local communities and the economy more widely.
“I am very pleased with the excellent work done to strengthen Metcash’s financial position, and I look forward to working with Ian, the board and the wider Metcash team as we continue to build on the good work done to reposition Metcash for the future.”
In order to help with a smooth transition into the role, Adams will join Metcash in September, with a view to taking over from Morrice as Group CEO in December. Metcash has said that Morrice will then stay on as an adviser to Adams and the Metcash board until June 2018.