The co-founder of Australian company Super Retail Group, Reg Rowe, will retire from the board effective today.
Super Retail Group operates brands such as Macpac and Rebel, as well as Supercheap Auto and BCF.
Rowe founded the company in 1972 with his late wife Hazel, and served as managing director until 1996. He was chairman from 1996 to 2004 and has been a non-executive director since the company listed on the Australian Securities Exchange in 2004.
Super Retail Group will appoint Mark O’Hare as a non-executive director of the company effective today, who was nominated by Rowe.
O’Hare is Rowe’s long-time business adviser and is the chairman of Rowe’s private investment entity Re-Grow Capital Group.
Super Retail Group chair Sally Pitkin said Rowe is a giant in the Australian retailing industry.
“He has been pivotal to the development of Super Retail Group into Australia’s leading high-involvement lifestyle retailer and instrumental in positioning the business for sustainable growth,” Pitkin said.
“Although Reg retires from his formal role with the board, we are delighted that he intends to continue his regular visits to our stores and offices, ensuring he will remain a familiar face for our team members.
“We thank Reg for his contributions as a non-executive director, and welcome Mark as the group continues to focus on strengthening our competitive position and delivering long-term value for shareholders.”
Rowe said his passion for the company has always remained strong, but said now is the right tim to step aside from his role on the board.
“The group is in good hands under the stewardship of an experienced Board and management team, and with a strategy that will enable Super Retail Group to continue to innovate, grow the business and deliver value for our shareholders,” Rowe said.
“Since 2004, I have been Super Retail Group’s largest shareholder and I have confirmed to the board that I intend to remain a committed, long-term shareholder in the company that I am so proud to have started.”
O’Hare will formally stand for election at the Super Retail Group’s annual general meeting on October 25, 2023.