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Mr Gore’s leadership has helped guide Peet through a number of transformational transactions. These have included its acquisition of CIC Australia – which involved the expansion into new markets of NSW/ACT and South Australia, the joint venture and later acquisition of the Flagstone project, and the acquisition of University of Canberra project.

Commenting on the move, he said the time was right for him to step down and pursue other interests.

“To ensure an orderly transition and business continuity, the Board and I have agreed that it is in the best interests of the company that I continue through to the end of the currentfinancial year, and step down from my roles on 1 July 2025,” Mr Gore said.

“When stepping into the managing director and CEO role, my first priority was to set a clear strategic direction for the company. Throughout the past 20 years as we’ve evolved and adapted our strategy, the Group has seen considerable growth and I’m proud of the strong position that Peet is in today.

“It has been incredibly rewarding to have worked alongside an outstanding team at Peet where, together, we have not only achieved much success but we have also managed the company through some extremely challenging times such as the Global Financial Crisis, Banking Royal Commission and COVID.”

Peet now intends to engage a suitable advisor to assist it in undertaking an orderly executive and director search. Brett Fullarton – who has been Chief Financial Officer since 2013 – will take on the role of interim CEO once Mr Gore steps down from his role and throughout the ensuing executive search.

Peet shares have fallen since the news, and at 12:26 AEST, they were trading at $1.57 – a drop of 3.99% since the market opened.

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At the top of the changelist was the appointment of former David Jones executive Kathy Karabatsas as Group Chief Financial Officer to replace Matt Jackman, who had held the position since February 2024.

Myer will also be replacing its Chief People Officer; Megan Collins is stepping into the role from next month, bringing human resources experience in the mining, food retail, and energy sectors, including at General Electric and Newcrest Mining.

The company’s new Chief Merchandising Officer will be Belinda Slifkas – who already works for Myer as General Merchandise Manager Apparel, Home, and Entertainment.

Two other appointees from outside Myer include new Chief Information Officer Mark Medwell – who has been with Cotton On for more than eight years – and Darren Wedding, appointed Chief Supply Chain Officer. The latter joins Myer after previous experience at multi-brand business Super Retail Group.

Also added to the executive lineup will be a newly created role, ‘Chief Product Officer,’ which Myer is currently recruiting for. That appointee is set to take on responsibility for Myer Exclusive Brands as well as private brands like Sass and Bide, Marcs, and David Lawrence.

Executive chair Olivia Wirth said these developments would help steer Myer in a strong new direction. “These leadership changes materially enhance our capability to drive the next phase of growth for the expanded Myer Group,” she said.

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“The new appointments bring world-class expertise in multi-brands and departmentstore environments and a track record of financial, retail and supply chain success to the Myer Group.

“The reshaped team is aligned to our strategic vision to create a leading Australian retail platform, building on the strength of our brands with the fresh thinking and expertise of experienced retail, sourcing and supply chain leaders.”

Myer has been trading at 74 cents.

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