JB Hi Fi Ltd

JBH: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$48.00	Fqzr	Gwhljyn

JB Hi Fi Appoints New CEO; Reaffirms Guidance

Apr 23, 2014

CEO Terry Smart surprised by announcing his retirement effective August 2014 after four years at the helm. His successor is the current CFO, Richard Murray. Smart's departure represents a loss of experience, especially given that he's been with the company since the management-led buyout in 2000. However, Richard Murray is well-credentialed, and experienced, having been CFO for more than 10 years. We don't expect major changes to the current strategy, given that Murray is an internal appointment, and has held a board seat since 2012.

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