The Myer Family Investments Announces New Ceo and Board Member
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Monday, 1 August 2016 MEDIA RELEASE THE MYER FAMILY INVESTMENTS ANNOUNCES NEW CEO AND BOARD MEMBER The Myer Family Investments Pty Ltd (MFI) has announced the appointment of John Russell as its new Chief Executive Officer. Mr Russell, currently Group Chief Financial Officer with the McAleese Group will take up the role in November this year. MFI Chairman Martyn Myer said that the board is delighted to welcome Mr Russell to the Myer Family Group to continue the 90-year-old company’s growth strategy into the next decade. This includes increasing MFI’s investment in operating businesses. “John brings a wealth of experience with a proven investment background both in Private Equity and through having held senior executive roles in several operating companies,” Mr Myer said. “For some time MFI has been focused on increasing investment in operating businesses and John’s experience aligns with this strategy.” Mr Russell said that MFI provided a wide scope of opportunity and he was looking forward to contributing to the group’s next phase of growth. “MFI is uniquely placed to invest in and contribute to businesses at all stages of development,” Mr Russell said. “This strategy offers tremendous opportunity to both MFI and the management teams of the companies in which it invests.” Peter Hodgson, current Chief Executive Officer, who has led the group for over seven years will retire in September. “Peter led MFI through a very challenging period in the financial markets. He played an integral role in managing MFI’s investment portfolio and building a diverse range of operating businesses,” Mr Myer said. “The MFI board recognises Peter’s significant contribution to the Group and we wish him all the best in his future endeavours.” Mr Myer also welcomes the appointment of Mr Kim Williams to the board of MFI. “Kim is respected for his commitment and repeated success in the Australian business and arts communities. He is well known to members of the Myer family, the board of MFI and currently holds a position on the board of The Myer Foundation,” Mr Myer said. Mr Williams has held many senior executive positions including Chief Executive at each of News Corp Australia, FOXTEL, Fox Studios Australia, the Australian Film Commission, Southern Star Entertainment and Musica Viva Australia. Ms Ann Sherry resigned from the MFI board in April this year to take up a role on the supervisory board of ING. Mr Myer thanked Ms Sherry for her service to MFI over five years. “Ann provided the Group with valuable operational company experience and a commitment to progressive management strategies,” Mr Myer said. -ENDS- For further media enquiries please contact Lauren Zammit on 0414 655 142. ABN 32 004 116 296 ׀ The Myer Family Investments Pty Ltd Facsimile: 61 3 9207 3001 ׀ Telephone: 61 3 9207 3000 ׀ Ground Floor, 171 Collins Street, Melbourne, Victoria 3000 NOTES TO EDITOR About John Russell Mr John Russell will join the MFI Group as Chief Executive Officer in November 2016 to align with the organisation’s focus as it continues to increase its investments in operating businesses. Mr Russell has an investment background both in Private Equity and through having held senior executive roles in several operating companies, including Group Chief Financial Officer with the McAlees e Group (2014 to 2016) and Deputy Chief Executive Officer at FleetPartners (2012 to 2014). Mr Russell had previously steered the Private Equity investment into FleetPartners by Ironbridge Capital, where he was a partner and led some of the firm’s largest and most successful investments (2006 to 2012). He attended Monash University, where he completed a Bachelor of Commerce and a Bachelor of Civil Engineering before undertaking an MBA at Harvard Business School. About Kim Williams AM Mr Kim Williams will join the MFI Group as a Director in August 2016. Mr Williams has held many senior executive positions including Chief Executive at each of News Corp Australia, FOXTEL, Fox Studios Australia, the Australian Film Commission, Southern Star Entertainment and Musica Viva Australia. He is also a member of the Myer Foundation board. Kim was appointed as a Member in the Order of Australia in June 2006 for his contribution to the arts and public policy formulation in the film and television industries. He continues to apply his extensive professional experience undertaking varied and diverse governance roles. About The Myer Family Investments Pty Ltd The Myer Family Investments (MFI) is a large private company founded by Sidney Myer in 1925. Its strategy is to invest in a widely diversified Australian and international portfolio across a range of asset classes and to make significant investments in outstanding companies. Page 2 .