REG - DFI Retail Group - Directorate Change

DFI Retail groupAnnouncement

02/05/2023 10:30

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RNS Number : 1132Y  DFI Retail Group Holdings Ltd  02 May 2023

Announcement

 

The following announcement was issued today to a Regulatory Information
Service approved by the Financial Conduct Authority in the United Kingdom.

 

DFI RETAIL GROUP HOLDINGS LIMITED

 

DFI ANNOUNCES LEADERSHIP TRANSITION WITH SCOTT PRICE TO SUCCEED IAN MCLEOD AS GROUP CHIEF EXECUTIVE

 

2nd May 2023 - DFI Retail Group Holdings Limited announces the appointment of
Scott Price as Group Chief Executive with effect from 1st August 2023. He will
succeed Ian McLeod who has been the Group Chief Executive since 2017 and will
be stepping down.

 

Scott is an experienced senior business executive with 25 years of
international experience, of which 19 years was spent in Asia, spanning the
retail, logistics and consumer packaged goods sectors.

 

Most recently, Scott was the President, International at UPS, and before that
the company's Chief Strategy & Transformation Officer. Prior to UPS, he
was with Walmart, first as their CEO, Asia, and then as the EVP, Global
Leverage, where he led global functions to drive synergies across Walmart's
four largest businesses - U.S., International, Sam's Club and E-commerce.
Scott was also President & CEO, at DHL Express in Europe and earlier, the
CEO, Asia Pacific. He started his career with the Coca Cola Company and held
country business positions in various locations across Asia.

 

Scott's career has centred on leading comprehensive programs to transform
business growth, talent, and culture, resulting in significant enhancements to
shareholder returns.

 

Commenting on the appointment, Ben Keswick, Chairman of DFI Retail Group,
said, "I am delighted to welcome Scott to the Group. Scott has successfully
led several large, multi-business organisations. He has the combination of
strategic, execution and Asia expertise to oversee our portfolio of leading
retail businesses across the region, building on our solid foundations to
create long-term value. I wish him every success as our new Group Chief
Executive."

 

"I would like to thank Ian for his six years as Group Chief Executive. At DFI,
Ian has led a comprehensive business transformation to strengthen our market
leading positions, including with respect to customer and product
propositions, core operating systems and processes, and supply chain. With
Ian's leadership, DFI has responded to changing market needs for an integrated
omnichannel customer experience with new store formats; the launch of Meadows,
our Own Brand business with over 3,000 new items in three years; and via the
launches of the yuu Rewards loyalty program in Hong Kong and Singapore - which
now has four million members in Hong Kong alone - and yuu-to-me, a one-stop
online shopping experience in Hong Kong."

 

Ian will remain with the Group until the beginning of August to ensure a
smooth transition of the business to Scott over the next few months. Scott
will relocate with his wife and be based in Hong Kong.

 

Scott Price has held directorship in the following listed company in the past
five years:

 Coles Group, Australia  Independent Non-executive Director  September 2022 to date

 

No further information is required to be disclosed in respect of Scott Price's
appointment pursuant to 9.6.13R of the Listing Rules of the UK Listing
Authority.

 

DFI Retail Group (the 'Group') is a leading pan-Asian retailer. At 31st
December 2022, the Group and its associates and joint ventures operated over
10,600 outlets and employed some 216,000 people. The Group had total annual
revenue in 2022 exceeding US$27 billion.

 

The Group provides quality and value to Asian consumers by offering leading
brands, a compelling retail experience and great service; all delivered
through a strong store network supported by efficient supply chains.

 

The Group (including associates and joint ventures) operates under a number of
well-known brands across food, health and beauty, home furnishings,
restaurants and other retailing.

 

The Group's parent company, DFI Retail Group Holdings Limited, is incorporated
in Bermuda and has a primary listing in the standard segment of the London
Stock Exchange, with secondary listings in Bermuda and Singapore. The Group's
businesses are managed from Hong Kong by DFI Retail Group Management Services
Limited through its regional offices.  DFI Retail Group is a member of the
Jardine Matheson Group.

 

- end -

 

For Media enquiries:

 

 DFI Retail Group Management Services Limited
 Christine Chung                               (852) 2299 1056

 Brunswick Group
 William Brocklehurst                          (852) 5685 9881

 

This and other Group announcements can be accessed through the Internet at
'www.DFIretailgroup.com'.

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