Chairman-elect for Endeavour Group revealed

11 December, 2019 by Andy Young

Woolworths Group has announced Peter Hearl, an experienced ASX 50 Director and global leader in the hospitality and food & beverage sector, as the proposed Chairman-elect of Endeavour Group.

Hearl’s appointment is subject to the completion of all relevant regulatory approvals and will only happen if the Restructure Scheme is approved by shareholders at the company’s EGM, which takes place next week, and if the Woolworths Board agrees to demerge Endeavour Group.

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The Board will make the decision on whether to demerge the group or “undertake another value accretive transaction” in 2020.

Speaking about the appointment of Hearl, Woolworths Group Chairman Gordon Cairns said: “Peter is a globally experienced leader in the food and beverage sector and we are pleased to announce his appointment as Chairman-elect for the proposed Endeavour Group.”

Hearl added: “I’m looking forward to the opportunity of working with the team at Endeavour and in partnership with Woolworths as the Groups both look to embark on a new era of transformation following the Restructure and proposed demerger.”

Hearl’s international career has spanned several executive leadership roles within PepsiCo Restaurants International and YUM! Brands Incorporated, including Global Chief Operations Officer of Yum! and President of Pizza Hut.

He is currently a Non-Executive Director of Telstra Limited and Santos Limited, and was previously a Non-Executive Director of Treasury Wine Estates Ltd and Goodman Fielder Ltd.