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Metcash on the hunt for next CFO as Brad Soller announces retirement

Australian grocery wholesaler Metcash will be conducting a search for a chief financial officer for the Group, following the announcement of Brad Soller’s retirement on Thursday.

Soller joined Metcash in 2015 and has been a “key driver” of the company’s strong financial position, Metcash said.

“Brad is leaving the business in a healthy state and we sincerely thank him for his dedication and efforts. His extensive experience and financial acumen have been highly valued by the Board, and we wish him all the best for the future,” Metcash chairman Rob Murray said.

The company said he was “instrumental” in the transformation of Metcash and played a big part in the sale of the Automotive business, the acquisition of Home Timber & Hardware and cost and efficiency improvements under the Working Smarter and MFuture programs.

The search for a new Group CFO will include both internal and external candidates. Soller will stay on through the search and hiring process which is expected to be completed by the end of FY21.

Fonterra chairman John Monaghan to retire

Multinational dairy co-operative Fonterra has announced the retirement of chairman John Monaghan when his three-year term ends this November.

Monaghan said the “timing is right” for him and for the next step in the Board’s development and succession planning.

“After 11 years as a Director, and having seen through the introduction of our new strategy, operating model, and with our debt reduction efforts well progressed, the timing is right for me and for the Co-op,” he said.

“The Board is committed to a planned Chair succession that provides Miles and his senior management team with the governance stability and confidence they need to maintain the Co-op’s momentum.”

Fonterra aims to announce a chair-elect by August to allow for a period of handover before Monaghan’s retirement.

Under Fonterra’s constitution, a chairman must be selected from its pool of seven elected Farmer Directors on the Board. Its Independent Directors are not eligible for consideration.

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