SUPER RETAIL GROUP FAREWELLS WRIGHT IN MANAGEMENT RESHUFFLE
Written on the 13 June 2017 by Paris Faint
SPORTS, auto and camping retailer Super Retail Group (ASX: SUL) has announced that long-time director and chairman Robert Wright will be stepping down from the board.
For the past eight years, Wright has steered Super Retail Group through a significant period of growth which included the acquisition of retail chains including Rebel Sport and Amart All Sports.
Super Retail Group's market cap has also increased from around $530 million to around $1.45 billion during his tenure.
Non-executive director Dr Sally Pitkin will step into the role of chairman, an appointment which Wright believes is a good fit for the future of the company.
"The company shall be extremely well served by having as its chair a person of Sally's capacity and experience," says Wright.
"Sally brings to the role a great depth of understanding of the company and I am certain that Sally shall provide outstanding leadership as the company continues to respond to the dynamic retail environment and to drive sustainable value for shareholders."
Dr Pitkin, joined the Super Retail Group in 2010 and has served as the chair of its human resources and remuneration committee since its formation in May 2011.
In addition to her 20 years of experience as a non-executive director in the listed, private and not-for-profit sector, Dr Pitkin has a career background in law and is a former partner at Clayton Utz.
Howard Molem has also joined the board as a non-executive director, coming from his position as chief financial officer of pan-Asian retail company Dairy Farm International Holdings.
At the beginning of 2009 around the time Wright joined the company, SUL's shares were trading at around $2.30. Its stock has now more than tripled to trade at $7.39 at the time of writing (11:47am AEST).
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Author: Paris Faint