Michael Hill CEO and MD Daniel Bracken died overnight.

In a stock exchange announcement, the jewellery retailer said Bracken died due to an adverse reaction to a medical treatment for an underlying medical condition.

The company expressed its condolences to Bracken’s family and friends and said he will be missed.

“On behalf of the board, we thank Daniel for his outstanding leadership and dedication to the Michael Hill Group and our people over the past seven years,” said the company.

“Daniel was a passionate retailer, an innovative and strategic thinker and an inspiring leader, who transformed the Michael Hill Group into the company that it is today.”

CFO Andrew Lowe said the board would update the market on interim leadership arrangements in due course.