The board of Liquor Stax this week announced the retirement of its chairman David Marlow, one of the banner's original founders.
Marlow will also retire from the board of directors on February 1. He has been a director of Liquor Stax since its inception 27 years ago and was the original chairman for the first 10 years.
"In making the announcement, the Liquor Stax Board acknowledges the outstanding contribution and devotion David has made to the substantial growth and direction of Liquor Stax," the retailer said in a statement.
"Despite an exceptionally difficult economic environment, David oversaw important changes during his tenure, significantly outperforming peer groups in terms of total member returns.
"He drove the introduction of private label, control labels, membership growth and evolving trading term partnerships with suppliers.
"Liquor Stax is a financially stronger and more self reliant business having had David's invaluable input."
Michael Samios has been elected unanimously as the new chairman of Liquor Stax.
Samios, 47, is general manager of The Vlandis Group with over 30 years experience in the retail liquor and hotel industry. He currently operates the Three Swallows Hotel, Coolibah Hotel and the Colonial Hotel.
"In succeeding David, Michael brings a unique combination of deep industry knowledge and marketing experience to the chairman’s role. He is widely respected throughout the liquor industry by suppliers, retailers, hoteliers and industry bodies," the retailer said.
Also this week, Liquor Stax said it had reported "a record result for the year to date which resulted in substantial benefits to all members".