Woolworths Group has named food and beverage industry veteran Peter Hearl as the proposed chairman-elect of Endeavour Group, ahead of a shareholder vote on the proposed restructure on December 16.
Hearl was chairman of Woolworths $4.8 billion petrol business, sold in April this year, and has held several executive leadership roles within PepsiCo Restaurants International and YUM! Brands Incorporated.
His appointment will only take effect if shareholders follow the advice of the Woolworths board and back plans for the first stage of the Endeavour Group restructure in the coming weeks, and if the board ultimately decides to demerge the business.
“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,” Woolworths Group chairman Gordon Cairns said.
Hearl said he is looking forward to the opportunity to “embark on a new era of transformation following the restructure and proposed demerger”.
Currently a non-executive director of Telstra Limited and Santos Limited, Hearl was also previously a non-executive director of Treasury Wine Estates Ltd and Goodman Fielder Ltd.