Latest news with #EndeavourGroup
Yahoo
7 days ago
- Business
- Yahoo
Endeavour Group exec chair leaves over board disagreements
Endeavour Group's executive chairman Ari Mervis has resigned from the Australian retail, wine and spirits business following a dispute with its board. "Endeavour Group today announces that Mr Ari Mervis has resigned as Executive Chairman effective 3 August 2025, citing disagreements with the board," an announcement on the ASX read today (4 August). Mervis had been promoted to executive chairman in February, following the departure of Endeavour Group's CEO Steve Donohue in March. Duncan Makeig, lead independent director, will take on the interim chair position and manage the search for a new independent chair. The chair position is expected to be filled before the start of next year, Endeavour said. Endeavour's chief financial officer Katie Beattie has also been appointed interim CEO. Jayne Hrdlicka was picked to take the reins as CEO of Endeavour in May. She starts the role in March next year. Group deputy CFO Tali Ross is to become interim CFO of the company. Makeig said: 'Kate has worked closely with the management team to ensure that operational performance and momentum is maintained across our business. We are confident in Kate's ability to continue leading the business as interim CEO through to Jayne's commencement in January.' 'The Board and management are undertaking a strategy refresh which will include a portfolio-wide examination of the Group's performance, key business drivers and execution across Retail, Hotels and the Pinnacle business, with the clear aim of maximising long term shareholder value.' Commenting on Mervis' departure, Makeig added: 'The board acknowledges Ari's service to Endeavour Group, a company we all agree has an irreplaceable asset base and unique opportunities in the future.' In the same announcement, Endeavour also revealed its preliminary estimates for its full-year results for 2025. It expects its full-year sales for 2025 to reach A$12.1bn. The group booked A$12.3bn in sales in 2024. Statutory net profit after tax is anticipated to sit between A$420m and $425m, which would be a dip on last year, where the company saw profit for the period after tax sit at A$512. Endeavour attributed the predicted 2025 figure to "a number of one-off items" in the period, such as "restructuring and redundancy costs and an impairment" linked to shutting its Prowine bottling site in South Australia. Endeavour's final full-year results for 2025 will be published on 25 August. "Endeavour Group exec chair leaves over board disagreements" was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Sky News AU
04-08-2025
- Business
- Sky News AU
ASX 200 drops after major wipeout on Wall Street following weak jobs data
The ASX 200 has dropped on Monday after a wipeout on Wall Street, triggered by a softer-than-expected payrolls report. The index dropped 0.25 per cent after about 90 minutes on Monday. Dan Murphy's owner Endeavour Group jumped 3.7 per cent after it was revealed the company's executive chairman Ari Mervis left the company over disagreements with the board. BlueScope has fallen about one per cent as the company has entered into a consortium with several international parties to potentially purchase the Whyalla steelworks. Meanwhile, buy-now-pay-later company Zip Co is down 3.7 per cent, aluminium producer Alcoa Corporation has sunk 4.7 per cent and financial services company Block has dropped 4.4 per cent. The ASX's movement follows news that about 73,000 jobs were added during July in the United States, below the 100,000 expected by economists. This sparked concerns amongst investors who remain on alert for data showing Donald Trump's trade policies are stalling the economy. Wall Street sank on Friday with the Nasdaq sliding 2.2 per cent, the Dow Jones falling 1.2 per cent and the S&P 500 shedding 1.6 per cent. London's FTSE 250 sank 1.2 per cent, Germany's DAX dived 2.7 per cent and the STOXX Europe 600 dived 1.9 per cent on Friday. New Zealand's NZX 50 is flat since trading began on Monday while Japan's Nikkei 225 has dived 2.2 per cent.
AU Financial Review
30-06-2025
- Business
- AU Financial Review
Pubs giant Endeavour plans to build 30-storey Brisbane apartment tower
Pubs giant Endeavour Group has lodged plans for a 30-storey apartment and hotel tower above the heritage-listed Morrison Hotel in inner-city Brisbane, which it hopes to have built before the 2032 Olympic Games. The Brisbane plan is just one of several major development applications Endeavour will lodge this year for projects across Sydney and Melbourne, as it seeks to make the most of its $1 billion retail and hospitality portfolio. Many of its properties sit on large parcels of land in prized locations, ripe for development.
West Australian
05-05-2025
- Business
- West Australian
Endeavour Group expects ‘flat to modest' growth for Dan Murphy's, BWS
Pubs and hotels giant Endeavour Group is tipping marginal growth for liquor chains Dan Murphy's and BWS amid ongoing weakness in consumer demand for booze. In a third-quarter trading update released on Monday, Endeavour revealed the strong sales momentum at its pubs was in stark contrast to the performance of its national network of 1722 bottle shops. Retail sales declined 3.1 per cent to $2.3 billion in the 13 weeks to the start of April, while hotels grew 5.1 per cent to $512 million. Total group sales fell 1.7 per cent to $2.8b. The company — which last week appointed former Virgin Airlines boss Jayne Hrdlicka as its new chief executive — expects 'flat to modest' sales growth for its liquor stores for the rest of the fiscal year. 'In Q3 hotel sales improved while off-premise demand remained subdued and our retail business continued to recover from the impact of supply chain disruption,' Endeavour executive chair Ari Mervis said. 'We have made an encouraging start to Q4. In retail we delivered an Easter sales result in line with Easter sales in the previous year and in hotels we continued to see good growth across all drivers — food, bars, gaming and accommodation.' Endeavour said consumer spending activity outside of key social occasions remained relatively subdued, noting there were only a limited number of such events left for the rest of the financial year. While it expects retail trading conditions to gradually improve as inflation moderates and the prospects for interest rate cuts increase, the group warned cost inflation would remain a headwind for the remainder of the financial year. Shares last traded at $4.16. More to come.
Yahoo
02-05-2025
- Business
- Yahoo
Endeavour Group appoints new CEO
Australian retail, wine and spirits brands major Endeavour Group has appointed Jayne Hrdlicka as its new CEO and managing director. Hrdlicka will take the reins from Ari Mervis, who stepped in as executive chairman following the departure of former CEO Steve Donohue in March. Donohue, who had served as CEO since 2018, announced his decision to step down in September. Arvis was appointed as Endeavour's new chairman in January, following shareholder tension at its AGM the previous October. In a statement announcing Hrdlicka's appointment, Endeavour said the move, intended 'to deliver the company's next phase of growth', would take effect from 1 January 2026. Until Hrdlicka officially takes on the role, she has agreed to be available to meet 'frequently' with the business to support discussions on 'key business and strategic matters", Endeavour said. Commenting on the news, Mervis said: 'Jayne has a proven track record leading consumer-facing businesses to success. She has led many complex organisations and delivered significant shareholder value by capturing the true potential of a company's brands and assets. 'The board believes Jayne is the ideal candidate to lead Endeavour Group through its next phase of both growth and transformation,' he added. As CEO and managing director of airline business Virgin Australia, Hrdlicka oversaw the company's recovery from administration following the onset of the Covid-19 pandemic. Her previous roles include CEO and managing director of the A2 Milk Company and Group CEO of Australian airline company Jetstar. From 2010 to 2016, Hrdlicka was a non-executive director at Woolworths Group, which then housed various liquor brands of Endeavour Group and the ALH Hotel Group. Reflecting on her appointment, Hrdlicka said: 'Endeavour Group is an extraordinary company with an unmatched portfolio of brands and assets in its core categories. 'I have a long history with Endeavour's retail and hotel businesses, initially as a consultant to Woolworths, including on their early liquor strategy, and then as a Woolworths Group board member.' The retailer, drinks producer and hotel business was established in 2018, following the merger of ALH Hotel Groups and Endeavour Drinks. Endeavour's drinks portfolio includes Australian and New Zealand winemakers Paragon Wine Estates, wine, beer and spirits distributor Pinnacle Drinks and Australian fine wine retailer Langtons. The group also owns the Australian liquor store chains Dan Murphy's and BWS, among other retail and hospitality brands. "Endeavour Group appoints new CEO" was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
