Nick Scali chair John Ingram to retire after 21 years
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The news: Furniture retailer Nick Scali has announced the retirement of its chair John Ingram, who has served in the role since before the company's IPO in 2004.
The context: Ingram will step down as chair and non-executive director at the conclusion of the group's annual general meeting on 29 October.
Managing director and CEO Anthony Scali will move into the role of executive chair, with no changes to his remuneration.
The board has appointed current independent non-executive director William Koeck as deputy chair and lead independent director. Koeck is also chair of Coronado Global Resources.
What they said: "John has been instrumental to the growth of the company," said Scali.
"His oversight during periods of significant growth and change has helped shape the company's strategic direction.
"As we transition to the next phase, I remain focused on driving strategic execution and delivering long-term shareholder value."
The source: ASX
