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A week after announcing the sudden passing of Michael Hill International's (ASX: MHJ) CEO Daniel Bracken, the Brisbane-based jewellery retailer has appointed Andrew Lowe as interim CEO while it conducts a global search for a permanent replacement.
Lowe, who joined the executive team in 2017 as chief financial officer (CFO), was recently promoted to CFO and supply chain officer. Before joining Michael Hill, he spent two years as head of tax, shared services and finance partnering at rail freight operator Aurizon, following a four-year tenure as deputy CFO and head of tax at Cleanaway Waste Management (ASX: CWY).
Lowe has become CEO effective immediately while the board searches for a replacement and considers internal and external candidates worldwide.
The company’s board also announced that director Claudia Batten was appointed deputy chair. Batten, along with chair Rob Fyfe and audit and risk management committee chair Gary Smith will provide support for Andrew during the interim period.
“Following Daniel’s passing, the board is confident in Andrew’s ability to steer the Michael Hill Group through this period of transition drawing on his extensive strategic, financial and operational experience as well as his enthusiasm and passion for the Michael Hill business and our people,” Fyfe said.
“Andrew is well supported by a very experienced and highly effective executive leadership team, who are well equipped to deliver on our strategic priorities and execute the Group’s business plan.”
Bracken, who became CEO of the jewellery retailer in 2018, was aged just 57 and died following an “adverse reaction to medical treatment for an underlying medical condition”.
He had an extensive career in retail and before joining Michael Hill was CEO of Specialty Fashion Group. Prior to that he was chief merchandise and customer officer of Myer and CEO of Apparel Group.
Born and educated in the UK, Bracken also spent 13 years with fashion brand Burberry. Sources within the company described Bracken as “an incredible CEO and leader”.
Founded in 1979 by Sir Michael Hill, Michael Hill International has approximately 300 stores across Australia, New Zealand and Canada. Listed in both Australia and New Zealand, the company employs 2,800 staff cross retail sales, manufacturing and corporate roles.
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