Australian retail billionaire Brett Blundy has recruited Mark McInnes for the newly created role of global chief executive of retail and consumer at investment firm BBRC.
McInnes will start his new position on February 26, two years after he stepped down as CEO of Premier Retail. He has been on paid ‘gardening leave’ since he departed from that company.
With the ‘golden handcuffs’ coming off on January 16, McInnes had been in discussions with potential employers, according to the Australian Financial Review (AFR).
McInnes told the AFR that Blundy’s experience, balance sheet capacity and ambition in the retail sector was particularly attractive.
“Brett actually wants significant growth in both the public and private retail and consumer market. I think the fact that he’s a retailer and I’m a retailer … I think we’ll make a great team.”
BBRC holds Blundy’s investments across a range of sectors, including its holdings in listed retailers Adairs, Lovisa, Accent Group and Universal Stores, as well as discount clothing chain Best & Less.