Endeavour Group has announced its plans for new Non-Executive Directors to its Board of Directors, as well as the candidate for the next Chairman.

Peter Hearl is stepping down as Chairman and will oversee the new Director appointments to ensure a smooth transition. Hearl has held the inaugural Chairman role since 2021, leading the group in the period following the demerger from Woolworths Group and throughout the COVID pandemic.

“I have been honoured to serve as Endeavour’s inaugural Chairman, a business that proudly serves customers and communities right across Australia.

“As Endeavour moves into its next phase post demerger and in line with orderly board succession and renewal planning, the board and I firmly believe now is the right time to commence a transition to a new Chairman. Under our phased approach, we can deliver stability and a smooth transition, allowing Endeavour management to remain focused on continuing to strengthen the business,” Hearl said.

Peter Margin and Ari Mervis have been selected as the board’s new Non-Executive Directors, and Ari Mervis has been selected as the next Chairman.

“Ari has deep experience across the consumer goods, food, beverages and agriculture sectors in Australia and internationally. He is currently serving as Chairman of Myer and McPherson’s and was previously Executive Chairman of Accolade Wines. He was formerly Chief Executive Officer of Murray Goulburn, and across a career of more than 25 years with SABMiller plc, Mr Mervis held senior leadership roles, including a decade as Managing Director of the Asia Pacific region,” Hearl said.

Margin brings extensive experience to the Endeavour Group board, with a three-decade executive career in the food, beverage and dairy sectors. His previous roles include the CEO of Goodman Fielder, CEO of National Foods, and senior management roles with Pacific Brands, East Asiatic Company, HJ Heinz Company Australia and Simplot Australia. He was also Executive Chairman of Asahi Holdings Australia, and a Director of Nufarm, Pact Group Holdings, Ricegrowers and Huon Aquaculture Group. Currently, Margin is also a Non-Executive Director of Costa Group, Deputy Chairman of Bega Cheese and Chairman of Golf Australia.

“We welcome Ari and Peter to the Endeavour Group. Our focus on a deliberate and comprehensive process for board renewal has secured experienced and respected company Directors. Ari and Peter’s nomination completes the first phase of our board renewal process and future Director appointments will be overseen by the new Chairman-elect,” Hearl said.

Bruce Mathieson Jnr has also decided to step down from his role as Non-Executive Director of the Endeavour Group board, and his resignation will take effect on 30 June 2024 at the latest. Throughout his career, Mathieson has held several executive roles across the Australian Leisure and Hospitality (ALH) Group.

“I am very proud to have worked and contributed to ALH Group and Endeavour Group over the past 25 years, as both an executive and board member. I am confident that Ari and Peter will be committed Directors and their skills and experience will contribute significantly to the board and our great company,” Mathieson said.

Providing that Bruce Mathieson Group (BMG) maintains its current level of shares, the Endeavour Group board intends to extend a board seat to a member of BMG. BMG will also nominate an alternative Director in recognition of its substantial shares in Endeavour Group.

Leave a comment

Your email address will not be published. Required fields are marked *