According to Endeavour Group’s chief executive Steve Donohue, Pfeiffer-Smith has played an integral part in defining the company’s path forward, as well as in the development and implementation of its solo strategy following its demerger from Woolworths Group in 2021.
“It’s a testament to the strength of our internal talent that we are able to appoint Agi,” Donohue said.
“Agi has a strong track record of driving transformation by harnessing the role that teams, technology and innovation play in delivering successful customer outcomes. This, combined with Agi’s deep understanding of the Dan Murphy’s business and the broader Endeavour Group strategy, ensures she is ideally positioned to lead Dan Murphy’s through the transformative change currently underway.”
Earlier this year Endeavour Group committed to expand its digital operations with a $35 million investment after its online sales were tipped to exceed $1 billion for the full year.
MedCart names new chief executive
Australian medical goods marketplace MedCart has named Dylan Bookless as the business’ new CEO, effective July 1.
Bookless joined MedCart as general manager in April, and will be replacing current CEO and founder Phil Leahy.
“I’m excited to be named to the role of CEO and believe I can bring strong, sustainable growth to the MedCart business,” Bookless said.
“I think there is a great opportunity in the medical supplies and pharmacy industries for a marketplace like ours to improve the consumer experience and make it easier for businesses to sell their products online.”
MedCart was founded during the Covid-19 pandemic with the aim of providing high-quality PPE, from a range of medical suppliers, for sale online. Within 12 months, the business hit $10 million in sales.
Moving forward, the business is focusing on launching new categories, and expanding its product range into pharmaceuticals and beauty, according to Leahy.
“We’re still in start-up mode, and it’s exciting times. Our team has grown from 4 people in December 2021 to 11 people today, and we’ve [served] 50,000 customers so far in both B2B and B2C,” Leahy said.
“I’m very excited to see [Bookless] lead and expand our team, and drive the marketplace forward as our new CEO.”
Vale: Leonardo del Vecchio, founder of Luxottica
Businessman Leonardo del Vecchio, who has died aged 87, created the glasses company that owns brands including Ray-Ban and used his billions to become one of the most influential figures in Italian finance. Del Vecchio rose from a childhood in an orphanage to amass a fortune of tens of billions of euros in one of the most famous rags-to-riches stories in Italy’s post-war economic recovery. At the end of 2021, he was Italy’s second richest man, behind only Giovanni Ferrero of the Nutella-making group, according to Forbes.
As is common in Italy, Del Vecchio, the chairman of spectacles maker EssilorLuxottica, did not retire quietly and, if anything, stepped up his business activities when he was in his 80s. In 2018, he sealed a major merger deal to combine the Luxottica company that he had founded in 1961 with France’s Essilor. In addition, his Delfin holding company is the largest shareholder in Italian financial services group Mediobanca and also has a sizeable stake in insurer Generali, placing him at the heart of the country’s boardroom intrigues.
Bed Bath & Beyond drops executive talent, CEO
US-based homewares chain Bed Bath and Beyond has replaced chief executive Mark Tritton after the business net sales tumbled 25 per cent in its first quarter, sending shares down 13 per cent.
Tritton has temporarily been replaced by independent director and head of the business’ strategy committee Sue Gove, after major investor and billionaire Ryan Cohen criticised the CEO’s pay, and “overly ambitious” strategy, and failure to reverse its struggling fortunes.
“Mr. Tritton should recognize that chief executives who are awarded outsized compensation and seek frequent publicity also invite much higher expectations when it comes to growth and shareholder value creation,” Cohen said in March, according to Reuters.
The business also dropped chief merchandising officer Joe Hartsig, replacing him with general manager of Harmon health and beauty Mara Sirhal.
Reliance Industries’ chairperson naming daughter as head of retail unit
Indian billionaire Mukesh Ambani is expected to name his daughter, Isha Ambani, as chairman of Reliance’s retail unit, according to Bloomberg.
Isha is currently a director of Reliance Retail, and has been tipped for the job by people with knowledge of the matter following the ascension of her brother, Akash Ambani, to the role of chairperson of Reliance Jio – the business’ telecom arm.
Isha also runs online fashion retailer, AJIO, which is a subsidiary of Reliance Retail.
According to the India Times, the move could be part of a succession plan for Mukesh Ambani, as he seeks to step back from the running of the Reliance business and secure his family’s involvement.
“Isha is very much in the driving seat in retail and continues to do so,” a long-term Reliance watcher told India Times on the condition of anonymity.
At an event in December, Mukesh Ambani said that the business is in the process of “effecting a momentous leadership transition”.
Despite this, it’s expected Mukesh will continue to be involved in the strategy of the businesses moving forward.