Warehouse names retailer Nick Grayston as new group chief executive

Tuesday 27th October 2015

Warehouse Group, New Zealand's largest listed retailer, appointed Nick Grayston as its new chief executive, replacing Mark Powell.

Grayston will join Warehouse in December from Sears Holdings in Chicago where he has held senior leadership positions including president of footwear, home, fine jewellery and apparel, Auckland based Warehouse said in a statement. Powell will continue with Warehouse until February to aid the transition, the company said.

Warehouse, which last month posted a 5.9 percent drop in annual profit, is seeking to generate earnings growth following a $100 million 'refresh' programme for its Warehouse stores, the acquisition of Noel Leeming and Torpedo 7, and its move into online sales. At Sears, Grayston has gained experience in leading change from traditional retail into omnichannel and integrated retail, building profitable businesses, driving operational turnarounds, changing business models and leading high-performance teams, the retailer said.

Prior to Sears, Grayston held senior executive positions with Foot Locker Inc companies including president and chief executive of Foot Locker, Footaction and Kid’s Foot Locker in New York and other leadership roles in Canada and Europe. He also previously held planning, allocation and merchandising roles at a number of leading retailers in the United Kingdom including Laura Ashley, Woolworths, Debenhams and Marks and Spencer.

Warehouse chairman Ted van Arkel said Grayston is a highly qualified retailer with extensive international experience and the skills required to drive profitable growth for Warehouse from the strong foundations that have been built.

The company's shares last traded at $2.71 and have slipped 13 percent so far this year.

BusinessDesk.co.nz

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