Brit for Red Shed head

Nick Grayston will be relocating to New Zealand from Chicago, where he has most recently been working for US retailer Sears.

New CEO Nick Grayston brings wealth of skills and experience to the Warehouse.

The Warehouse Group has looked globally for its new chief executive, hiring English-born Nick Grayston - the third in a row to come from the UK after Scotsman Ian Morris and current chief executive Welshman Mark Powell.

Warehouse chairman Ted Van Arkel said the company had been looking for candidates internally but Grayston "ticked a lot of the boxes".

"The process started in July and we've been working quite hard on it," van Arkel said. "We recognised that we have made a number of acquisitions in the last two years now and we needed someone with the experience that we believe Nick has to move us along into the next stage of our development so we're delighted he is joining us."

Grayston was announced as the replacement for outgoing chief executive Mark Powell yesterday after a search that van Arkel said had been months in the making.

First Retail Group managing director Chris Wilkinson said the move to hire outside of the company was a good one.

"I think it's vital, to be honest - you really do need that external perspective," Wilkinson said.

"On that very large perspective, this guy has the helicopter view of the business," he said. "Time and time again we see that as a success factor - when companies bring in some external perspective and whether they bring that in at the senior CEO level or through the board or advisories, you can feel your vision is a lot different to people who are already in the organisation."

Grayston will be relocating to New Zealand from Chicago and is hoping to be with the company by November. He has held a number of positions with top US retailer Sears Holdings, which sells footwear, homeware, fine jewellery and apparel, following 10 years with Foot Locker in Europe and then the US.

He has also held planning, allocation and merchandising roles at a number of leading retailers in the UK including Laura Ashley, Woolworths, Debenhams and Marks and Spencer. Van Arkel said it was this experience that made him the perfect candidate for the next stage in The Warehouse's journey.

"He's very analytical and he has the buying experience, merchandising experience, retailing experience and more importantly, the online experience," he said.

"He has developed the Sears websites over there and been intricate in improving the customer profile and relationship for the company so we believe we have a very experienced retailer that will bring a lot of skills to the table."

The Warehouse, which last month posted a 5.9 per cent drop in annual profit, is looking to grow its revenue after a $100 million investment in refreshing its stores as well as the acquisition of Noel Leeming and Torpedo 7

Powell would stay with the company until early next year.

Warehouse shares closed unchanged yesterday at $2.71 and have slipped 8.1 per cent in the last year.

Nick Grayston

• Age: early 50s
• Currently working at Sears Chicago
• Joins the Warehouse in November/December.