Noel Leeming Group Ltd Background Information

Noel Leeming Group Ltd

BACKGROUND INFORMATION

Noel Leeming Group is New Zealand’s leading appliance and electronics retail company with sales over $500 million and more than 88 retail stores nationwide. Its flagship retail brand is Noel Leeming, with 57 stores, while it’s Bond & Bond stores focus on bringing customers unbeatable deals on leading brands. The Group’s heritage extends more than 100 years in New Zealand.

Noel Leeming Group is owned by Australian-based private equity firm, Gresham Private Equity.

Andrew Dutkiewicz (pronounced do-ke-vitz) was appointed CEO of the Noel Leeming Group by Gresham in early 2007. In the past year, he has reviewed the group’s operations and brands and made a number of changes which are now paying dividends.

Some of the changes have been bold – the Erin Brockovich advertising campaign, for instance – but Andrew Dutkiewicz believes the company’s two brands really needed to distinguish themselves from the “loud mouthed” Australian opposition.

In addition, Dutkiewicz has worked with his executive team to get some of the basics right – issues like stock weighting, store look and feel, and staff incentives are being addressed.

The company has also focused on corporate social responsibility, and has implemented a number of initiatives in both environmental sustainability and giving back to the community.

Noel Leeming is Noel Leeming Group’s flagship retail brand. It strives to offer a superior standard of service and the widest possible range of branded consumer technology and appliances. Noel Leeming promises its customers that it will never knowingly be undersold. It provides comprehensive after sales support.

Noel Leeming

Noel Leeming stores offers a range of new technology based products such as liquid crystal display (LCD) and plasma TVs, cellular phones and services, digital cameras and convergence technologies. Demand for these technologies is growing and is expected to continue to drive growth in the Noel Leeming brand.

In August 2002, Noel Leeming introduced Noel Leeming “Online”, offering customers the opportunity to research and then buy products over the internet - www.noelleeming.co.nz. It is widely acknowledged as New Zealand’s best online electronics retail site.

Bond+Bond

With 31 stores, Bond & Bond provides appliance, computer and electronics products in a no frills environment. Bond & Bond is focused on bringing customers unbeatable deals from leading brands.

The chain was founded in 1875 in Silverdale, north of Auckland, by Enoch Bond for his three sons. The business was set up as gum buyers but developed into a general store. In 1894, the business moved to Auckland and the first home appliance branch opened in the Dilworth Building on Queen Street.

www.bondandbond.co.nz

Executive Team – Noel Leeming Group

Chief Executive Officer - Andrew Dutkiewicz

Andrew has a background in management consultancy, engineering and construction prior to joining Noel Leeming Group as its CEO.
Key milestones in his career include:
- A founding partner of CACE Partners, a boutique management consulting firm based in Australia
- Worked as an engineer in the South African mining industry
- Business development manager for a construction materials company
- Management consultant with McKinsey & Co
- MBA (Harvard) and BSc (Mechanical Engineering)
- Born and educated in South Africa, Andrew has lived and worked in the US, UK, Australia and New Zealand.

Chief Financial Officer - Mark Conelly

Mark has a background in senior financial roles in various industry sectors in New Zealand, including wholesale distribution, financial services, property, investment, manufacturing, tourism, insurance and corporate.

He has a BCom from Auckland University and carries the CA designation with the NZ Institute of Chartered Accountants. Mark's role at Noel Leeming Group encompasses finance and administration, technology, human resources and the commercial office.
He has previously worked in Australia, Hong Kong, China and the US.

Outside of work, Mark has been involved in a number of charitable organisations. He helped to establish the teenage cancer support group, CanTeen, in NZ and was on the Board of CanTeen for a number of years. In addition, he was on the Board of the Child Cancer Foundation for over 10 years, including 4 years as Chairman. He is currently a Trustee of the Ronald McDonald House Auckland Trust.

Jason Bell – General Manager, Merchandise.
Jason has spent 17 years in retail specifically in merchandise. He has been with Noel Leeming Group 13 years and before being appointed General Manager Merchandise six years ago had worked as a Product Manager and Category Manager across all product groups.
Prior to joining the group Jason spent 4 years with Farmers Trading Company. Jason holds a Graduate Diploma in Business Administration.

Roslyn Mortimer, Head of Marketing, Noel Leeming Group

Following a commerce degree from the University of Otago and post graduate studies in marketing and psychology, Roslyn joined Farmers Trading Company full time in 1996 where she became Events Manager, incorporating internal and external public relations.

After 10 years at Farmers, Roslyn moved to Vodafone as its Sponsorship Portfolio Manager, managing properties which included the Vodafone Warriors, Variety - The Children’s Charity, Hamish Carter and Sarah Ulmer.

However, in 2002 she moved back to the retail industry as Marketing Manager of Countdown Supermarkets under Woolworths and Progressive Enterprises.

At Noel Leeming Group since 2006, Roslyn is responsible for all elements of the marketing mix, from branding, advertising and public relations to developing the company’s corporate social responsibility strategies. She was promoted from Marketing Manager Noel Leeming to Head of Marketing for the group in July this year.

Dave Hargreaves, General Manager Operations.

Born and educated in England, Dave is a dual citizen of the United Kingdom and New Zealand. He has lived and worked in both countries and has over 20 years retail experience.

Previously, he has held the positions of Senior Manager of Sainsbury’s supermarkets in the United Kingdom and Divisional Manager Progressive Enterprises.

Dave has a Post Graduate Degree in Business Management from Waikato University.

Gresham Private Equity

Gresham Private Equity specialises in leveraged buy outs targeting investment opportunities in both Australia and New Zealand. The Group's first fund was established in 1999, with capital commitments of $200 million. This fund is fully invested and closed for new investments.

The Group's second fund was established in 2004 with capital commitments of $325 million and has current investments as follows:
- Noel Leeming and Bond and Bond retail chains (NZ), August 2004. These chains form New Zealand’s largest electrical appliance retailer;
- Australian Pacific Paper Products, June 2005. APPP is a manufacturer of branded and private label disposable nappy products;
- Geon Group, November 2005. Geon is a market leading commercial print company with operations in New Zealand and Australia. Geon completed a takeover of Promentum, an ASX listed company in May 2007;
- Witchery Fashions, August 2006. Witchery is a highly successful retailer of ladies apparel and accessories, with more than 100 stores across Australia and New Zealand;
- Barminco, August 2007. Barminco is a leading provider of underground contract mining services in Australia with annual turnover in excess of $500 million; and
- Bay of Fires and Cradle Huts Walks in Tasmania, October 2007. The acquisition is part of a new venture between GPEF2 and Grant Hunt to build a portfolio of businesses catering to the growing demand for premium quality nature-based experiential tourism.

ENDS

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