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Endeavour Group has announced leadership changes as it prepares for a strategic refresh aimed at enhancing operational performance across its diverse portfolio.

Executive chairman Ari Mervis has stepped down, following reported disagreements with the board. Lead Independent Director Duncan Makeig will serve as interim chair while the search for a new independent chair is underway.

Ari Mervis was appointed executive chairman of the Australian retail, wine and spirits business in February 2025, following the departure of CEO Steve Donohue.

To ensure continuity in leadership, chief financial officer Kate Beattie has been appointed as interim CEO until the arrival of Jayne Hrdlicka, who is set to officially take over the CEO role on January 1 2026.

Hrdlicka is currently consulting with the board and senior management to contribute to a comprehensive strategy review, which aims to maximise long-term shareholder value.

Endeavour Group has projected Group F25 sales to reach $12.06 billion, with statutory net profit after tax estimated between $420 million and $425 million. These figures include impacts from one-off items such as restructuring costs and an impairment related to the closure of the Prowine bottling facility.

The company noted that its balance sheet remains robust, supported by solid cash flow generation and a disciplined approach to capital management that has resulted in reduced net debt.

The board is undertaking a thorough examination of the Group's performance across its Retail, Hotels, and Pinnacle business segments. This review aims to identify key business drivers and enhance execution strategies.

Interim chairman Makeig expressed confidence in Beattie's leadership capabilities, stating that her experience will be instrumental in maintaining operational momentum during this transition.

As part of the leadership transition, the board is actively seeking new non-executive directors to strengthen its governance framework in light of the upcoming changes. The goal is to have a new independent chair in place before Hrdlicka's official start date.

Featured image: Jayne Hrdlicka and Ari Mervis