Michael Hill International has announced a new CEO as Phil Taylor steps down over a six-month period for health concerns. Daniel Bracken will take over the position late in the year.
The jewelry chain says goodbye to Taylor as health concerns will see him step down into a consulting capacity while the handover happens on November 15.
Bracken steps into the position with 25 years’ experience in retail and fashion and three decades within Michael Hill, a bright outlook for the chain who has seen share price fall 28 percent this year.
Earlier this year it shut its 10-year-old US chain amid declining sales and after failing to find a buyer. It also quit its three-year-old Emma & Roe business.
“Daniel’s global experience and strong commitment to create engaged customer-centric brands is aligned with the board’s commitment to see Michael Hill become a globally relevant leader in the premium jewellery category,” said chair member Emma Hill.
She thanked Taylor for the “immense contribution” he had made to the firm during the past three decades and said his leadership during a period of “recalibration and repositioning” had been outstanding.
“Because of these changes, Michael Hill is a strong and resilient business today with a clear strategy and platform to deliver sustainable long-term growth.”