Paying tribute to Ms Morphet, Mr Bush said: “In the five years since Sue’s appointment she has driven a transformational restructuring of Pacific Brands. Sue has taken the business from having well over 300 brands and a significant debt load to being the consolidated, key brand-focused, comparatively low-debt company it is today. All of this has been achieved against the backdrop of market uncertainties and structural change within the sector.
“In transforming the company and making difficult but necessary changes, Sue has had to manage some of the toughest challenges a chief executive ever meets. She has the utmost respect of the board and her team.”
Sue Morphet said “It has been an extraordinary 5 years and it has been an honour to lead Pacific Brands, a company I joined in 1996. It would be fair to say there have been some very difficult times and some great times as we have made the changes necessary to set Pacific Brands up for future strength and growth.
“I am a firm believer that 5 years is just about the right length of tenure for a CEO. It’s time for a fresh set of eyes and new energy to take this great company forward. I would like to thank my board, employees, customers and consumers for their support. After a break and time with my family, I am looking forward to a new set of challenges.”
Peter Bush said: “With the transformation complete and having had discussions with Sue with regard to planning leadership succession, the board focused on identifying the executive best placed to drive the future performance of the business. We all agree that John is the right person to take the company forward.
“The board was pleased to have someone of John Pollaers’ calibre to lead the business. His appointment followed an international executive search.
“John brings a different set of skills and experience to the company. He joins us an experienced public company CEO, having had a distinguished 22 year track record in international consumer products.
“John is well known in Australia and internationally for his ability to motivate and build confidence in his teams. He sets clear strategic directions, focuses on operational delivery and brings a strong commercial conscience. John has a terrific record of managing and building great brands and the board welcomes his enthusiasm for Pacific Brands.”
Mr Pollaers said he was excited by the opportunity to lead the team at Pacific Brands. “I am looking forward to building on the areas of momentum already in the business,” Mr Pollaers said. “I feel certain there are further opportunities for growth within the Pacific Brands portfolio and I look forward to tapping into the possibilities for this business.”
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