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Changes at top in Warehouse Group

The board changes come as the Warehouse pushes on with a transformation programme. Photo / Dexter Murray
The board changes come as the Warehouse pushes on with a transformation programme. Photo / Dexter Murray

Warehouse Group, the country's biggest listed retailer, will undergo a boardroom shuffle with two retirements at this year's annual meeting, when veteran director Ted van Arkel takes up the reins as chairman.

The current chairman, Graeme Evans, and director Janine Smith have signalled their respective retirements at the end of the annual meeting and will be replaced on the board by former Noel Leeming boss John Journee and ex-Air New Zealand general counsel Vanessa Stoddart.

Their departures come as the Warehouse continues its transformation programme under relatively new chief executive Mark Powell as it tries to navigate a tough retail environment and regain some of its lost lustre after abandoning forays into grocery and Australia under its previous management.

Shares closed down 9c yesterday at $3.60, and have gained about 24 per cent this year.

- BusinessDesk

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