Endeavour Group held its 2025 Annual General Meeting (AGM) today, with addresses from both Interim CEO Kate Beattie and Interim Chairman Duncan Makeig, who highlighted how the group is progressing in its strategic review of the business.
Beattie was appointed Interim CEO after Endeavour’s then Executive Chairman and acting CEO Ari Mervis resigned his position, citing disagreements with the Board. The Group has since announced that it has appointed Jayne Hrdlicka as its CEO and MD, and she will commence her role on 1 January 2026.
Speaking about Hrdlicka’s appointment, Makeig told the AGM: “Jayne’s credentials are outstanding – she successfully led Virgin Australia out of administration, served as Managing Director and CEO of The A2 Milk Company and CEO of Jetstar Group, and was a Woolworths Non-Executive Director from 2010 to 2016 when Endeavour’s brands were part of that group.
“Jayne excels at applying deep consumer insights to formulate and execute successful strategies, and has extensive business transformation experience including a track record of creating shareholder value. These are exactly the capabilities Endeavour needs for its next chapter.
“Jayne starts on 1 January 2026, pending receipt of her regulatory approvals. Until then, she is consulting two days a week to the Endeavour Group Board and senior management team and we are already benefiting from her strategic insights and fresh perspective.”
He added: “With a new CEO appointed, a revitalised leadership team and a strategic review well advanced, the Group is well positioned to deliver against a new compelling strategy that will create sustainable long-term value for our shareholders.
“Weʼre progressing our Group-wide strategic review examining our performance and opportunities across Retail, Hotels and Pinnacle Drinks, with the clear aim of maximising long-term shareholder value.”
Makeig also told the AGM that he is optimistic about Endeavour’s outlook and what the strategic review will mean for the business.
“We are working in close consultation with our incoming CEO and Executive Leadership Team on our strategic business review,” he said.
“The goal is to ensure we have a very clear strategy for every part of our business that enables management to deliver exceptional experiences for our customers and guests, maintains a strong workplace culture, and delivers the full value of our portfolio to shareholders.”
Beattie also addressed the AGM on the progress of the review, she said: “The Groupʼs strategy review which is being led by management, in consultation with Jayne Hrdlicka, and with a continuous feedback loop with the Board, is progressing well.
“We are really encouraged by the early signs we’re seeing which reinforce the underlying strength and growth potential of the business and our brands. We look forward to bringing the outcome of the strategy review to the market in the first half of next calendar year.”
In addition, Beattie outlined some of the measures the group has taken this year to, as it progresses with its review.
“Throughout F25 we took a number of actions to simplify and focus the business,” she said.
“This included integrating the Shorty’s (B2B) delivery business into Dan Murphyʼs, moving Jimmy Brings into a partnership with Milkrun, closing our Prowine bottling facility in South Australia and restructuring our support office. In F25, our group optimisation program, which we call endeavourGO, delivered a further $75m in optimisation savings, bringing the cumulative total benefits of that program to $265m since F22.
“During F26 we will be using our strategy review and the opportunity provided by our investment in new enterprise technologies to identify our next wave of efficiency initiatives, with upside remaining in areas such as automation of back office processes.”
Makeig also updated the AGM on the Group’s Board, following the appointment of Penny Winn and Peter Hardy as Non-executive Directors. He told the meeting about the recent leadership changes at the Group and that he is leading the search for a new Independent Chairman, with the intention of having the new leadership in place by early 2026.