New SI boss for supermarket chain

The South Island’s biggest supermarket business has a new boss who has worked most of her career in the retail fashion sector. Mary Devine is taking over as Foodstuffs South Island’s chief executive, replacing Steve Anderson who has been in that position for the past 20 years, the business said yesterday.

The 220-store southern operations of New World, Pak’nsave, Four Square, Gilmours and Liquorland will be led by a woman for the first time.

Devine has been a Foodstuffs director since 2018 but before that was managing director of Hallenstein Glassons.

She has been chief executive of Ezibuy and managing director of Christchurch and Timaru upmarket retailer Ballantynes & Co.

She has been a director of Meridian Energy, Christchurch City Holdings and insurance giant IAG NZ.

Devine has education qualifications from the University of Otago, Canterbury University and

Harvard Business School and is a Christ’s College board member. She has a national award, having been made an Officer of the New Zealand Order of Merit. She is also an NZ Institute of Directors fellow.

Her Linkedin profile says she is an experienced chief executive in largescale organisations and a company director on listed and private boards, with a demonstrated history of strong commercial acumen and expertise in strategy and transformation.

Devine said she is proud of her South Island heritage and is well connected within the community. She starts on November 8. Last week, the Herald reported on accounts for Foodstuffs North Island and Foodstuffs South Island showing that combined revenue in the latest year increased to $6.9 billion, but owner/operator distributions were cut for the northern owners because of higher expenses due to Covid.

Foodstuffs South Island has 220 southern stores and its members got more this year.

Its annual report for the year to February 28, 2021 showed revenue was also up, from $3.1b to $3.2b.

Net profit after tax fell from $8m last year to a $2.3m loss this year, mainly because operating expenses rose from $274m to $306m.

Distributions to Foodstuffs South Island members were rebates, dividends and imputation credits totalling $315.7m, up $24.4m or 8.4 per cent.

“The significant rise comes from monthly rebates, up $20m due to higher sales volumes and a continued increase in the proportion supplied from our distribution centres,” the annual report said.