Australia's Endeavour jumps as chairman exit ignites hopes for strategy refresh

Endeavour

04/08/2025 06:18

** Shares of Endeavour Group EDV.AX rise as much as 5.5% to A$4.260, marking their biggest intraday pct gain since February 21, 2022

** Stock marks its highest level since May 5

** The liquor retailer says its executive chairman, Ari Mervis, has stepped down

** Adds, incumbent CFO Kate Beattie appointed as interim CEO

** "Market may be acting positively to today’s news as company embarks upon “Strategy Refresh” to maximise long-term shareholder value" - Craig Sydney, senior investment adviser at Shaw and Partners

** Sydney adds, appointing the current CFO, who has been with EDV for 8 years, has lifted investor sentiment

** Stock down 0.4% YTD, including the day's move

(Reporting by Rajasik Mukherjee in Bengaluru)

((Rajasik.Mukherjee@thomsonreuters.com))