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Daniel Bracken has been remembered as a “passionate retailer” and an “innovative and strategic thinker” after the CEO of Michael Hill International (ASX: MHJ) passed away suddenly overnight.
Bracken, who has been CEO of the jewellery retailer since 2018, was aged just 57 and died following an “adverse reaction to medical treatment for an underlying medical condition”.
“The board, executive and all of the Michael Hill team express their deepest and sincerest condolences to his family and friends,” says the company.
“On behalf of the board, we thank Daniel for his outstanding leadership and dedication to the Michael Hill Group and our people over the past seven years. He will be dearly missed.
“Daniel was a passionate retailer, an innovative and strategic thinker and an inspiring leader, who transformed the Michael Hill Group into the company that it is today.”
The announcement comes just days after Bracken presented the company’s interim earnings result for FY25, when he praised the team “for their retail execution, determination and resilience in an incredibly tough trading environment”.
The company posted a 9 per cent increase in statutory net profit after tax to $16.9 million in the first half despite a 0.7 per cent fall in revenue to $360.2 million.
The Brisbane-based Bracken had an extensive career in retail and prior to joining Michael Hill in November 2018 he was CEO of Specialty Fashion Group. Before that he was chief merchandise and customer officer of Myer and CEO of Apparel Group.
Bracken, who was born and educated in the UK, also spent 13 years with fashion brand Burberry.
Sources within the company have described Bracken as “an incredible CEO and leader”.
As CEO, he oversaw a specialty retail group with operations in Canada, New Zealand and Australia across 294 stores.
Michael Hill has yet to announce an interim CEO to lead the company for now, but the board says this will be done “in due course following this sad news”.
Michael Hill International was founded in 1979 by Sir Michael Hill who opened his first jewellery store in Whangarei, New Zealand. Listed in both Australia and New Zealand, the company maintains its global headquarters, including its wholesale and manufacturing divisions, in Brisbane.
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