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Homewares retailer Adairs (ASX: ADH) has named former Country Road managing director Elle Roseby as new CEO to replace Mark Ronan, who earlier this month announced plans to retire from the company.
Roseby, who is described by Adairs as an “experienced and well-regarded retailer with a proven track record”, will assume the role of CEO from 20 January next year.
The appointment comes on the heels of a tumultuous period for Country Road which has been rocked by allegations of a toxic “boys’ club” culture for the past year. Roseby is reported to have been forced out of the top job that she had held for six years at Country Road after taking a stance in support of affected staff.
The appointment is a major coup for Adairs with Roseby’s career in retail including a decade with department store group Myer (ASX: MYR) and leadership positions as CEO of Sportsgirl from 1997 to 2013, general manager of Supré from 2014 to 2018.
As managing director of Country Road over six years until her resignation in July this year, Adairs says Roseby oversaw the repositioning of the retailer as a global lifestyle brand that has delivered “consecutive record-breaking results”.
“We are pleased to welcome Elle to the group as our new CEO,” says Adairs’ interim chairman Trent Peterson.
“Elle is an authentic values-driven leader who brings deep retail experience across fashion apparel and home textile product categories.
“Her impressive track record in leading and growing customer-centric and product-led Australian brands makes her an outstanding appointment for the group. The board and I look forward to working closely with her across our portfolio of businesses.”
Adairs says Roseby is recognised as “one of Australia’s most influential retailers over the last three decades”.
“Managing vertical speciality retail brands and enhancing service-centric store environments has been a consistent feature of my career,” says Roseby.
“I look forward to working closely with the talented teams and leaders of each of Adairs, Focus on Furniture and Mocka.”
Adairs says that due to current commitments, Roseby’s appointment as CEO will take effect about 20 January 2025.
Ronan, who called it quits on 5 September after 17 years with the company, will remain as CEO until early 2025 to “facilitate an orderly transition”.
Ronan played a key role in Adairs’ ASX listing in 2015 and led two acquisitions, comprising Focus on Furniture and online furniture business Mocka.
Roseby joins Adairs on a base salary of $950,000, including superannuation, with a short-term incentive opportunity of an additional $600,000 for FY25.
The pay negotiated by Roseby compares with Ronan’s base salary of about $744,000 in FY24, plus a short-term incentive bonus of $175,500 he was awarded.
From FY26, Roseby will have the opportunity to be granted up to $837,000 as performance rights over shares in Adairs as part of the long-term incentives of her salary package.
Adairs shares were trading 6c higher at $1.81 at 10.46am (AEST).
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