Endeavor Group’s majority shareholder Bruce Mathieson is calling for the resignation of Chairman Peter Hearl as the company’s performance continues to decline.
Endeavour is the owner of Dan Murphy’s and BWS while Bruce Mathieson is renowned as Australia’s pub king who has called for the company to head in a new direction with a reshuffling of its board members.
Sky News Business Editor Ross Greenwood says Endeavour’s joint venture with Woolworths has been a “big, big fight” since it was announced.
Mr Mathieson has wanted to bring in former Woolworths executive Bill Wavish onto the board as his representative but Endeavour has refused the request.
Over the past year, Endeavour’s share price has dropped 29.51 per cent.
Mr Greenwood says the group has its annual board meeting on Tuesday and it will be “very, very hot”.
Former Woolworths chief executive and retail legend Roger Corbett has also weighed in on the issue, claiming the Endeavour board has not done the job properly and should use the expertise of Mr Wavish and Mr Mathieson.
Business and Finance | Herald Sun