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JB Hi-Fi’s Richard Murray Named CEO of Premier Retail
Richard Murray, the former CEO of JB Hi-Fi, has been named the CEO of Premier Retail.
The role will commence on October 4, 2021, and will also hold the position of Premier Executive Director.
“On behalf of the Board, I am delighted to announce Richard’s appointment to the role of CEO Premier Retail. Richard is unquestionably one of the best retailers in Australia, having delivered significant growth, transformation and shareholder value during his career at the JB Hi-Fi Group. Richard’s appointment continues Premier’s track record of recruiting and retaining the best executives in the industry,” said Solomon Lew, the Chairman of Premier Investments.
Murray’s move comes after Mark McInnes stepped down from the role after a decade. McInnes will commence gardening leave following the completion of the full 2021 trading period. In addition to McInnes’ gardening leave, under the terms of his contract, Premier is exercising a 12-month restraint ending in January 2023 and is entitled to exercise a further 12-month restraint through to January 2024.
“The Board thanks Mark for his stewardship of Premier Retail over the past ten years. Mark has guided the business to deliver record year-on-year operational and financial performance across the retail cycle via the relentless and consistent pursuit of Premier’s strategy,” Lew explained. “It is a great credit to Premier and its Board that we have been able to attract highly regarded leaders such as Mark, Richard and our outstanding senior leadership team.”
Richard Murray has more than 25 years of experience in retail and finance. He joined JB Hi-Fi in 2003, where he held the role of CFO for more than ten years. He then was named CEO of JB Hi-Fi and JB Hi-Fi Group, which he held for more than six years.
“The appointment of Richard, announced today, will enable the Board and senior leadership team to plan for a smooth and seamless transition. The Board is immensely proud of its highly skilled senior leadership team who remain fully focussed on continuing to deliver for all stakeholders. We look forward to welcoming Richard to our strong and committed team of more than 9,000 people,” said Lew.”This is the beginning of a new chapter for Premier as the Group continues to grow its brands both locally and globally while carefully managing through continued pandemic conditions across numerous jurisdictions. With a very strong balance sheet, Premier is exceptionally well placed to continue to grow our existing businesses and seek out new opportunities into the future.”