Woolworths Group has today announced Peter Hearl, an experienced ASX 50 Director and global leader in the hospitality and food & beverage sector, as the proposed Chairman-elect of Endeavour Group.
Peter’s appointment as Chairman is subject to completion of all relevant regulatory approvals and will only take effect if shareholders approve the Restructure Scheme resolution at the EGM on 16 December 2019 and if the Woolworths Group Board determines to demerge Endeavour Group. The decision whether to demerge Endeavour Group or undertake another value-accretive transaction will be made by the Woolworths Group Board in 2020.
Peter’s international career has spanned several executive leadership roles within PepsiCo Restaurants International and YUM! Brands Incorporated, including Global Chief Operations Officer of Yum! and President of Pizza Hut.
Peter is currently a Non-Executive Director of Telstra Limited and Santos Limited, and was previously a Non-Executive Director of Treasury Wine Estates Ltd and Goodman Fielder Ltd.
Woolworths Group Chairman Gordon Cairns said: “Peter is a globally experienced leader in the food and beverage sector and we are pleased to announce his appointment as Chairman-elect for the proposed Endeavour Group.”
Peter Hearl added: “I’m looking forward to the opportunity of working with the team at Endeavour and in partnership with Woolworths as the Groups both look to embark on a new era of transformation following the Restructure and proposed demerger.”