Metcash has announced that Group CEO Jeff Adams has notified the Board of his intention to retire from the role and that Doug Jones, currently CEO and Senior Vice President of South African-based Massmart Wholesale, will succeed him.
Jones is a highly experienced executive with extensive wholesale, retail and eCommerce experience. He has spent the past 14 years with the Johannesburg Stock Exchange-listed Massmart group which is majority-owned by Walmart Inc. It has leading market positions in wholesale food, liquor, home improvement and general merchandise.
Jones is a qualified Chartered Accountant and has previously held senior finance positions in Makro SA, Amalgamated Beverages Industries Limited and The South African Breweries, all in Johannesburg, Coca-Cola Enterprises in Canada, and Deloitte in both Canada and South Africa.
Metcash Chairman Rob Murray said: “Doug’s extensive and distinguished international experience across wholesale, retail and eCommerce markets made him the standout candidate to succeed Jeff. He is passionate about the success of independent retailers and we are looking forward to him joining us and taking the Company forward.”
Adams joined Metcash in September 2017 and under his leadership the Company has seen significant transformation and growth. He was responsible for the successful MFuture program designed to provide a pathway to sustainable growth, which Metcash said significantly improved the competitiveness of its retail networks.
Murray added: “On behalf of the Board I would like to thank Jeff for his outstanding contribution to Metcash over the past four years. Jeff has worked tirelessly to deliver our purpose of championing the success of our independent retailers.
“The demands on Jeff through COVID have been considerable and were a factor in his decision to retire as Group CEO. His endurance and resilience during this period, which included not being able to see his US-based family, have been amazing.
“The Board and our stakeholders greatly appreciate Jeff’s dedication and efforts, and we wish him all the best for his return to the US and his family. He is leaving Metcash in a very strong position.”
Jones will join Metcash on 1 February 2022 and the group said he will work closely with Adams on a smooth transition into the role.