Metcash hardware CEO to step down
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The news: Wholesaler Metcash has announced that Annette Welsh will step down as the chief executive of its Independent Hardware Group business in August.
The numbers: The company said Welsh, who has served as CEO for five years and spent a total of 15 years in senior management roles at IHG, had advised it was an appropriate time for her to step down and hand over to a successor.
Under her stewardship, IHG’s key trade and DIY segments have seen sales increase 35% between FY19 and FY23.
The context: IHG merchandise general manager Geoff Harris will step in as interim CEO until a full-time successor is appointed. Welsh will continue to be a board member in a number of IHG's joint venture entities. The IHG business includes Total Tools Holdings, Mitre 10 and Home Timber and Hardware brands.
Metcash supplies the IGA supermarkets network as well as other independent retailers, and is also the largest broad range liquor wholesaler and the largest supplier of liquor to independently owned liquor retailers in Australia.
The source: ASX announcement
