The spin-off of Woolworths Endeavour Drinks business continues to take shape with the retailer revealing the new CEO and the new Chief Financial Officer yesterday.
Woolies said in a statement to the ASX that it had appointed liquor veteran and current drinks managing director Steve Donohue as the CEO-elect of the company’s soon to be spun out Endeavour Drinks division.
The company’s current group portfolio manager Colin Storrie has also been appointed the new chief financial officer and operations officer of the $10 billion division.
“We are delighted to announce the appointment of Steve and Colin to the key roles within Endeavour Group, subject to the Board approving the demerger of Endeavour Group,” Woolworths chairman Gordon Cairns said in the statement to the ASX on Thursday.
“Both Steve and Colin are highly experienced executives and have held key leadership roles across Woolworths Group in food, drinks, and hospitality. With their in-depth knowledge of the industry and deep understanding of the business, they’re ideally placed to oversee the next phase of growth for Endeavour Group, while also sustaining and building on our existing partnership.”
Late last year, the company announced former Pizza Hut executive Peter Hearl would be appointed chairman-elect of the new division.
Woolies shares closed up 0.6% at $41.44 yesterday.
