Adairs Ltd (ASX: ADH) shares are pushing higher on Tuesday morning.
At the time of writing, the ASX 300 retail stock is up 4% to $1.82.
Why is this ASX 300 retail stock rising?
There are likely to have been a couple of catalysts for today's gain.
The first is a rising share market following a decent night on Wall Street. This has seen the All Ordinaries index rise 0.3%.
The second reason for today's gain has been the release of an announcement out of the ASX 300 retail stock this morning. That announcement reveals that Adairs has found its new CEO.
What did it announce?
According to the release, Elle Roseby has been named as the new CEO and managing director of Adairs.
The release notes that Roseby is an experienced and well-regarded retailer with a proven track record of delivering excellent results. Most recently, she was the managing director of Country Road and Trenery – which are part of CRG, which is ultimately owned by South Africa-based Woolworths Holdings.
In addition, Roseby has held business leadership roles at Cotton On Group, Sportsgirl, and Myer Holdings Ltd (ASX: MYR).
Commenting on the appointment, the ASX 300 retail stock's interim non-executive chairman, Trent Peterson, said:
We are pleased to welcome Elle to the Group as our new CEO. Elle is an authentic values-driven leader who brings deep retail experience across fashion apparel and home textile product categories. Her impressive track record in leading and growing customer-centric and product-led Australian brands makes her an outstanding appointment for the Group. The Board and I look forward to working closely with her across our portfolio of businesses.
Roseby appears up for the challenge of leading Adairs. She commented:
I am delighted to join Adairs and look forward to commencing in January 2025. Managing vertical speciality retail brands and enhancing service centric store environments has been a consistent feature of my career. I look forward to working closely with the talented teams and leaders of each of Adairs, Focus on Furniture and Mocka.
However, it will be a few months until the company has its new leader. Due to current work commitments, Elle Roseby's commencement date with Adairs will be on or around 20 January 2025. Until then, Mark Ronan will continue in the role of CEO through to early 2025 to facilitate an orderly transition.
