More unsettling news from Hills (after the recent announcement it lost the Ampetronic agency). Hills Limited has given Ted Pretty his marching orders and installed current Hills Chief Operating Officer, Grant Logan, as the CEO with immediate effect. Here’s what the press release said:
Ms Jennifer Hill-Ling, Hills Chairman, said “Ted has led Hills through its transformation from a diversified holding company to a technology business focused on security, AV, audio, communications and health.
“The Board has recently reviewed and refined the company’s strategy and committed to consolidating its existing businesses and growing, both organically and by acquisition, within Australia and New Zealand.
“After discussing the refined strategy with Ted we have agreed that this is the time for a change in executive leadership.
“Ted leaves the Company with a strong balance sheet, a simplified business model and the thanks of the Board.”
Mr Pretty said: “Hills is a great company with a wonderful brand and people. It has significant potential as a leading provider of technology solutions.”
Mr Logan joined Hills four years ago as Chief Financial Officer (CFO) and was appointed Chief Operating Officer in February 2015. Mr Logan has had a number of executive roles in both Australian public companies as well as global multinationals. Prior to joining Hills he held the role of Chief Financial Officer at Corporate Express. Earlier in his career Grant has served as Chief Financial Officer of Goodman Fielder, Chief Executive Officer at Philips Electronics and Chief Financial Officer at Bayer Limited.
Commenting on the appointment, Ms Hill-Ling said “Given his role as COO, Grant is able to move seamlessly into the role of chief executive officer. On top of his operational experience, he possesses extensive and proven abilities in negotiating and completing complex financial transactions, particularly mergers and acquisitions. Through this experience he has built a broad array of relationships with international & domestic analysts, our key shareholders and other major business influencers that will be essential for Hills future success.
“Grant’s primary focus will be on ensuring the company generates consistent returns for shareholders.”