Following the recent acquisition of the Borders business in Australia, New
Zealand and Singapore Ian Draper has decided to step down as Managing
Director of ARW Group.
After considerable thought about how best to manage the combined business it
has been decided to formally establish Group functions in Australia. Mr
Draper''s ongoing role in the Group would therefore require him to move to
Australia on an indefinite basis. Despite the fact that over the past 12
months Ian has willingly spent a significant amount of time travelling
between New Zealand and Australia, he has decided that New Zealand is his
home and that an indefinite move to Australia is not a viable option.
Mr Draper joined the Merchandise team of Whitcoulls in 1995 and was appointed
Managing Director of Whitcoulls in 2001. He was subsequently appointed to his
current role as ARW Group Managing Director in February 2005.
During his time with the business Mr Draper led the implementation of SAP
into Whitcoulls and spent 18 months in Australia in 2005/06 repositioning the
Angus & Robertson brand and turning the business around through the
integration of SAP. During this period the business also changed ownership.
Ian has continually ensured that there was a ''steady hand on the tiller''
during these changes.
Following Mr Draper''s departure, Dave Fenlon will take on the role of
Managing Director of the ARW Group. Mr Fenlon was formerly the Group
Operating Officer with responsibility for the day-to-day operations of both
Angus & Robertson and Whitcoulls.
Dave Fenlon has 22 years experience and knowledge of the retail trade both in
Australia and abroad. He joined the ARW Group in 2006 as General Manager of
Angus & Robertson after working for Tesco plc as Operations Director in
Hungary.
"During his time with the ARW Group Ian managed to build a strong management
team and maximise the benefits of SAP to improve efficiency in all parts of
the business. As Managing Director, I am looking forward to continuing the
work Ian started in strengthening and growing the ARW business," said Mr
Fenlon.
John Coote added, "I would like to take this opportunity to wish Ian all the
best for the future. I am sure that after a well earned break Ian will be
taking on a new challenge with his normal energy, good humour and
professionalism."
As part of the structural changes in the senior management team James Webber,
Group Development Director, has taken on responsibility for the Group
Property portfolio and Internet business in addition to his responsibilities
for Supanews and Calendar Club. James'' experience in managing the Group''s
Joint Venture partnerships and business start-ups makes him an ideal
candidate to oversee these areas.
In addition, after careful consideration the ARW Group has decided not to
appoint a Group Managing Director but to appoint Rod Walker as Executive
Chairman. Mr Fenlon and Mr Webber, along with John Coote, Managing Director,
Borders Group and James Cody, Group Finance Director, ARW Group will report
directly to Rod.
Rod Walker has been on the ARW Board for two years and has been Chairman
since July 2007. He has over 30 years experience in the retail and
hospitality industries, his last full-time role being CEO of The Freedom
Group.
For further information call:
Paul Smith
FD Third Person
T: +61 2 8298 6100
M: +61 406 018 296
E: paul.smith@fdthirdperson.com.au
About A&R Whitcoulls
A&R Whitcoulls is a leading book and stationery retailer in Australia, New
Zealand and Singapore. A&R Whitcoulls currently operates the following
divisions:
Angus & Robertson is the most recognised book retail brand in Australia.
Over the last three years Angus & Robertson has moved away from a discount
driven sales focus and increased its focus on a more sustainable value driven
proposition.
Whitcoulls is the most recognised book retail brand in New Zealand with 72
stores nationwide. Whitcoulls operates eight stores in both international
and domestic airports in New Zealand. Within the Whitcoulls division,
Bennetts sells textbooks and related course materials from 10 stores on New
Zealand University and Polytechnic campuses.
On 5 June 2008 A&R Whitcoulls announced the acquisition of 30 Borders stores
in Australia, New Zealand and Singapore. Borders has the biggest choice of
books, music, movies and magazines in the market, with more than 200,000
titles. Borders offers customers a rich shopping experience, providing
books, music, movies and magazines in a relaxing, enjoyable atmosphere.
Calendar Club is a chain of specialty calendar stores which operate over the
Christmas period (October to January) in major shopping centres and other key
retail precincts in both Australia and New Zealand. Calendar Club is the
leader in the seasonal calendar retail market and the number one seasonal
retail concept in Australia and New Zealand.
Supanews is a joint venture business that operates 41 newsagencies in
Australia.
Since Pacific Equity Partners acquired the A&R Whitcoulls Group from UK
retailer WH Smith in May 2004 the company has executed a disciplined growth
strategy, disposed of non core assets, including Australian and Hong Kong
airport stores, and acquired a controlling stake in newsagency chain,
Supanews.
Angus & Robertson, Whitcoulls and Borders are well known and have strong
brand presence in their respective markets. Both Angus & Robertson and
Whitcoulls have histories dating back over 125 years. Borders opened its
first store in Australia in 1998 and has since grown to a network of 23
stores in Australia, 5 in New Zealand and 2 in Singapore.
About PEP
PEP is the most active private equity fund in Australia and New Zealand,
providing strategic management experience and capital resources to grow
companies in a range of business situations. PEP Fund IV is the largest
private equity fund in Australia and the firm has over $6.0 billion of equity
funds under management. Since its establishment in 1998, PEP has made 18
portfolio company acquisitions and more than 20 add-on acquisitions at the
company level.
PEP currently has 13 companies in its portfolio with combined revenues in
excess of $3 billion per annum, spanning industries including food, liquor,
technology, financial record-keeping and retail trade. Recent PEP investments
include:
American Stock Transfer & Trust (AST) - The largest independent share
registry in the US by issuer number.
Hoyts Group - A leading cinema exhibitor and advertiser in Australia and New
Zealand.
Veda Advantage - The leading provider of business and financial intelligence
services through the use of financial record-keeping, analytics and
technology.
Independent Liquor - A leading manufacturer and distributor of alcoholic
beverages in Australia and New Zealand, with a particular focus in the
ready-to-drink (RTD) category.
Australian Administration Services (AAS) - A provider of administration
services to the superannuation and retail master trust industries. AAS has
been merged with Link Market Services, a share registrar and analytic
business also owned by PEP.
Detailed information about PEP''s entire portfolio and its exited investments
can be found at www.pep.com.au.
End CA:00168339 For:ARW Type:OFFICE Time:2008-08-07:13:43:48