The Endeavour Group board has appointed Tim Poole as chair, following receipt of the necessary regulatory approvals. His selection was initially announced in February, and the appointment was made effective from 14 May.
The role was previously held by Ari Mervis, who resigned last August, citing disagreements with the board. Lead independent director, Duncan Makeig, immediately stepped into the role in an interim capacity. Following Poole’s appointment, he will continue to serve as a non-executive director of Endeavour Group.
The company stated Poole is an experienced leader, investor and company director, having previously served on company boards including The Lottery Corporation, Aurizon Holdings, and Reece Limited.
“On behalf of the board, I am delighted to announce and welcome Tim to Endeavour Group,” said Makeig.
“Tim has significant board leadership and stakeholder management capability and a proven track record leading through change. Having previously led large organisations he is well placed to lead the board and support management through a period of significant strategic transformation.”
The company’s latest financial report outlined a three-year cost reduction program targeting $100 million in savings to be delivered in FY27. The program spans store cost optimisation, labour efficiencies, centralised administration, procurement savings, and support office headcount reduction.
Endeavour is also proactively increasing inventory cover for fast-moving products in response to the Middle East conflict, anticipating a maximum $400 million of additional inventory versus the prior year. The higher stock levels will be funded through short-term debt facilities and are expected to temporarily affect group leverage.
Poole said he was looking forward to supporting the management team to improve, develop and maximise the value of the Endeavour Group portfolio of businesses and assets.
“I am delighted to be joining the Endeavour board as chairman to support management during this period of strategic transformation,” said Poole.
“I thank Duncan Makeig for his leadership as interim chairman and continued service on the board.ˮ
