New-Zealand based discount clothing retailer The Warehouse Group has announced that Mark Powell will succeed Ian Morrice as group chief executive officer later this year.
According to a statement released on the Australian Securities Exchange today, the board elected Powell, who has held senior management roles in the retail sector internationally over the past two decades, based on his wealth of experience and his understanding of the New Zealand market.
Powell has been appointed as chief executive designate and will work with Morrice during the management change transition period, with the final handover date to be agreed between both parties in the coming months. Thereafter, Morrice will support Powell on the board until the end of November.
The Warehouse Group chairman Keith Smith said the board was delighted to have Powell at the helm as chief executive and paid tribute to Morrice's leadership over the past few years.
“Mark is a seasoned executive with a broad international experience in leading significant operation, in problem-solving and in driving growth. I am confident he will make an outstanding contribution to the development of the company over the coming years,” he said.
“New Zealand has seen transformational growth in the retail space and competition over the past decade. Since Ian [Morrice] joined the company in 2004, competitive non-food retail footprint has grown by approximately 40 per cent. The company is [now] strongly positioned for future growth through multi-channel development, the re-commencement of space growth, the introduction of new brands and product categories, and supply chain and sourcing developments.”