7-Eleven reveals new CEO, Angus McKay exits for $1.9m Bapcor role
Bapcor’s core business is the automotive aftermarket which includes ABS, Autobarn and Midas in its retail portfolio.
The post 7-Eleven reveals new CEO, Angus McKay exits for $1.9m Bapcor role appeared first on Inside Retail Australia.
Angus McKay, 7-Eleven CEO since 2016, is moving into the automotive world as executive chair and CEO at Bapcor.
Bapcor’s core business is the automotive aftermarket which includes ABS, Autobarn and Midas in its retail portfolio.
The AFR reports the appointment comes hot on the heels of Bapcor’s knockback of an unsolicited all-cash $1.83 billion buyout from Bain Capital.
The role will deliver McKay an annual salary (including superannuation) of $1.9 million.
McKay takes up the new role on 22 August 2024 and has already handed over the reins at 7-Eleven to newly-appointed CEO Fiona Hayes.
7-Eleven’s new CEO
Hayes joined the convenience chain in 2022 as general manager channel. Prior to this she was part of the Telstra Executive Team for more than a decade and held senior roles in operations and retail networks.
Hayes’ remit was to grow the business through store operations and new channels to market.
Hayes said “It is an honour to lead 7-Eleven Australia. I thank the 7-Eleven International team for this opportunity, and I’m excited about what we will collectively achieve in the years ahead.
“Our ambition is to continue to push the boundaries of how consumers experience convenience in the neighbourhoods where we operate. I’m looking forward to working with our stores, our partners, and our support office to bring this to life.”
Diverse experience suits new role
McKay took on the CEO role at 7-Eleven after the convenience chain’s headline-making turbulent period of franchisee wage theft.
He improved profitability by embedding strong financial control and operational discipline as well as transforming culture and sustainability practices, and implemented new operating models in stores and in the supply chain.
He has also held leadership roles at ASX firms The Skilled Group and Asciano Limited, and headed up Pacific National Rail.
Bapcor chair Margie Haseltine said “Angus is a proven leader with extensive experience. Throughout his career he has brought a strategic approach to expansion and operational efficiency. Along with his focus on cultural change, Angus is well placed to drive results in Bapcor’s strategic endeavours and in turn for Bapcor’s shareholders.”
This story was originally published on Franchise Executives.
The post 7-Eleven reveals new CEO, Angus McKay exits for $1.9m Bapcor role appeared first on Inside Retail Australia.