Endeavour advances towards demerger with appointment of CFO

April 6, 2021
By Ioni Doherty

The appointment of Shane Gannon to the role of Chief Financial Officer for the Endeavour Group is another step towards the business’ separation from Woolworths.

“This is a very rare and unique CFO opportunity for me to join an already well established and successful business, combined with leveraging off my past years of public company experience, to participate in the Endeavour Group’s next exciting growth phase, ” Gannon said.

Gannon is responsible for the finance function end-to-end across Endeavour Group, investor relations and internal audit, as well as the Group services portfolio.

“With more than 40 years of finance experience across multiple industries, I’m really pleased to have somebody with Shane’s experience join the team to guide us through the separation and as a stand alone business,” Endeavour Group’s Managing Director Steve Donohue said. 

Prior to joining Endeavour Group, Gannon was the Chief Financial Officer for Mirvac Property Group for eight years. He has also been the Chief Financial Officer for other market leading ASX-listed companies including Goodman Fielder and CSR. 

In July 2019, Woolworths Group announced that its intention to combine the retail drinks and hotels businesses to create Endeavour Group via a restructure of Endeavour Drinks and subsequent merger with ALH Group. The restructure and merger were completed in February 2020 with the intention to subsequently pursue a separation of Endeavour Group later that year.

However, the separation was postponed as part of the Group’s prioritisation of its COVID response although work towards the separation continued. This included enabling the Endeavour Group so that it could function as stand-alone business, as well as the implementation of partnership agreements with Woolworths Group.

The Endeavour Group separation is now expected to take place in June 2021, most likely via a demerger.

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