Ari Mervis (L) and Peter Margin (R) started their new positions as independent Non-executive Directors yesterday 27 March. Mervis also assumed his new role as Chairman of the Board, taking over from Peter Hearl.
Ari Mervis brings with him 27 years in the drinks industry including in positions such as CEO of Carlton & United Breweries and Chairman of Accolade Wines. The news that he and Margin would be joining the Endeavour Group Board was initially announced in early January.
“I am honoured to be starting today as Chair of Endeavour Group, which is home to the leading brands in drinks retailing and some of the best hospitality venues in the country,” said Mervis in an Endeavour Group ASX statement.
“I am excited about the prospects for the Group and supporting management in driving the next phase of the company’s growth. I am looking forward to delivering improved outcomes for all shareholders.”
Peter Hearl announced his resignation from the chairman position in January alongside board member Bruce Mathieson Junior. The news followed on from a very public disagreement fuelled by discontent from the groups largest shareholder, Bruce Mathieson (senior), Bill Wavish and Roger Corbett, amid a falling share price.
“On behalf of the Board and executive, I would like to acknowledge Peter Hearl’s significant contribution to Endeavour Group,” said Mervis.
“Peter was the inaugural Chair of Endeavour Group and has helped steer the company through its listing on the Australian Securities Exchange and the challenging pandemic period. We wish him all the very best for the future.”
The Endeavour Group announcement released to the ASX yesterday reveals that “the Board and the Bruce Mathieson Group are continuing to progress a replacement nominee for Bruce Mathieson Junior who was announced in January 2024 as also stepping down from the Board.”
The resignation of Bruce Mattieson Junior will take effect by 30 June this year.
