Anchorage appoints retail veteran as Dick Smith CEO, announces new board

Having completed the purchase of Dick Smith Electronics from Woolworths, Anchorage Capital Partners has this morning announced the leadership team that will take over the running of the retailer’s head office.

The new chief executive office is Nick Abboud, who is joining Anchorage after almost 20 years at Myer, where he was most recently the executive general manager of operations.

“I am delighted to be joining this iconic Australian retailer,” said Abboud in a statement. “Dick Smith is a well-regarded brand supported by an experienced team and an excellent national footprint.

“Anchorage and I see great potential in the Dick Smith business and I look forward to working with the team to fully realise these opportunities.”

Joining Abboud on the board of directors are Anchorage chairman and new chairman of Dick Smith Phillip Cave, Anchorage partner Michael Briggs and Bill Wavish.

Wavish also has experience at Myer, where his positions included executive chairman, as well as formerly being the finance director and supermarket director of Woolworths.

A full description of new CEO Abboud’s experience in retail was included in the media release announcing his appointment. Here is an edited version:

“Nick Abboud, who brings 24 years’ experience in the Australian retail sector, recently announced his resignation from retailing group Myer Australia, where he had worked since 1993. He was most recently executive general manager operations, responsible for the overall strategic planning and direction of Myer’s store operations from conceptualisation to delivery of operational strategies.

“His previous positions included director of store operations and director of retail stores. Nick began his retail career on the shopfloor and worked his way through one of Australia’s largest and most respected organisations to the senior echelons of management, leveraging his detailed, hands-on understanding of all facets of retail operations.”

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