FORMER TESCO BOSS JETS IN TO JOIN IGA
A FORMER executive at British supermarket Tesco is taking the reins of the company behind the Independent Grocers of Australia banner.
Grocery wholesaler Metcash announced yesterday it had appointed Jeff Adams as its next chief executive.
Mr Adams will step into the role in December, succeeding Ian Morrice, who last month announced his intention to retire. Metcash, which also owns the Mitre 10 and Home Timber and Hardware brands, said he had held various senior positions over his 20 years with the British grocery giant.
He has served as chief executive of Tesco Kipa in Turkey and of Tesco Lotus in Thailand, and as director of operations of the Tesco Express chain of convenience stores in the UK.
He will join Metcash in September on a remuneration package worth $1.8 million a year plus bonuses, and will work with Mr Morrice for three months before starting as chief executive in December.
Mr Morrice will then act as an adviser to Mr Adams and the board until next June. Metcash chairman Rob Murray said the company carried out an extensive search for a successor to Mr Morrice.
It was Mr Adams’s calibre and experience that secured him the role. “Jeff has a lifelong passion for the retail industry and is ideally suited to lead the company’s continued focus on ensuring the competitiveness and success of independent retailers,” he said.
“His deep international experience, including a strong track record in difficult retail market conditions, made him a standout candidate.”
Metcash shares rallied 2.9 per cent yesterday, closing at $2.47.