Mitre 10 has announced its chief executive Neil Cowie has tendered his resignation after five years with the company.
Cowie joined Mitre 10 in 2013 after serving as chief executive of troubled childrenswear retailer Pumpkin Patch for two years.
Mitre 10 chair Martin Dippie says Cowie has led the company through a time of impressive growth and has ensured the company is in an excellent position for the future.
“Neil has been a pleasure to work with – he has a real passion for retail, has thrived in our co- operative environment by building strong and genuine relationships with our members and suppliers alike. I believe his greatest achievement has been his contribution to the future vision for Mitre 10 and building a really strong executive leadership team to deliver this,” says Dippie.
Cowie says it has been a privilege to serve the Mitre 10 Co-operative over the past five years, but that it is time for him to take a break before he considers his next step.
“These past five years have undoubtably been the most enjoyable and satisfying years of my retail career to date. Very few leaders get the opportunity to preside over more than $600m of growth during their tenure. I am particularly proud of the unique culture we have created at Mitre 10 which I believe has helped to create sustainable value to our member shareholders, as well as being a great place for people to come and work each day.”
“I’m looking forward to taking a break and spending some quality time with my family while I consider what my next step may be,” says Cowie.
Matthew Washington, chief financial officer, has been appointed as acting CEO while the board commences an international search for a successor. Cowie will work with the board during the handover process.
“Neil will be working with the board to ensure a seamless handover to Matthew who, alongside the executive leadership team, will continue to deliver on a business-as-usual basis while we conduct our international search,” says Dippie.