Bunnings has undergone a major reshuffle and exodus of top management, which the retailer insists was not a cost-cutting measure.
The hardware giant announced the changes internally on Tuesday, with four executives departing, including chief commercial officer Ben McIntosh.
Others include general manager of corporate affairs Maria McCarthy, information officer Leah Balter and merchandise director Jen Tucker.
Managing director Mike Schneider emphasized that the staff departures were not part of a cost-cutting move.
Bunnings managing director Mike Schneider (pictured) said the changes are a ‘reform’ rather than a restructuring
‘I would have said it is a reform, not a restructuring. It is certainly not a Telstra thing,” Mr Schneider told the newspaper Australian Financial Statement.
The Bunnings boss has been with the company for 19 years, eight of which have been at the helm.
Mr. Schneider has rejected any claims that the move would be part of a succession plan for when he eventually leaves.
“I have very, very strong plans, I’m a Bunnings lifer through and through,” he said.
Ms Balter will remain on board to do some work for the hardware chain and their parent group Wesfarmers on strategic artificial intelligence projects.
The management reshuffle at Bunnings is intended to bring the commercial and customer teams closer together
A number of other changes were also announced internally on Tuesday.
Bunnings Chief Customer Officer Ryan Baker has been appointed Chief Operating Officer, while current Chief Financial Officer Rachael McVitty will become Chief Customer Officer.
Michael Howard, who currently works at Wesfarmers after a 16-year career at Officeworks, has been appointed Chief Financial Officer with effect from 1 July.
Mr Schneider said the top management reshuffle was aimed at bringing the commercial and customer teams closer together.
“We want to stay laser-focused on customers,” he said.
Bunnings operates 387 stores across Australia with more than 55,000 employees.
The hardware giant’s parent company Wesfarmers told investors earlier this month that they would rely on new ranges such as pets and cleaning products at Bunnings to help deliver growth.
Bunnings’ parent company Wesfarmers recently told investors they are counting on new ranges to build growth. Pictured is a Bunnings store