HWI’s CEO Joe Hersch to retire 30 September 2007

By Martin Vedris

SYDNEY: Housewares International, parent company of Breville and Kambrook, today announced that current CEO and managing director, Joe Hersch will retire on 30 September 2007.

Mr Paul Hill, currently Group General Manager, will be appointed CEO, effective from October 1 2007. Hill was previously a senior executive at Black and Decker and the former CEO of Salton Australia.

Hersch provided HWI with more than 17 years service and was commended by company chairman John Schmoll.

“On behalf of the Board, may I express our thanks to Joe Hersch for his contribution to the important electrical and international foundations that have been established,” said Schmoll.

“Today HWI Electrical is the industry market leader in Australia and New Zealand and Breville branded appliances are achieving outstanding success in North America. We now look forward to Paul Hill leading the company forward.”

Meanwhile according to the HWI report released to the Australian Stock Exchange today, group sales increased to $436.9 million from $424.2 million in 2006. Electrical and International sales increased by 6.1 per cent to $371.3 million, with the latter increasing by 17 per cent to $178.8 million, while Australian electrical sales of $192.5 decreased marginally.

Looking ahead, the company stated that sales were both ahead of budget and the corresponding period in FY07 for the first seven weeks of the 2008 financial year.

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