JB Hi-Fi group CEO, Richard Murray has made the decision to leave the company at the end of August 2021. He will join Premier Retail as CEO and executive director, effective October 2021.

The Good Guys CEO Terry Smart has been appointed to succeed Murray. Smart joined the group in 2000 as chief operating officer and was promoted to JB Hi-Fi CEO in May 2010, before leaving the company in June 2014. He returned to the group in April 2017 as managing director of The Good Guys and has led the repositioning and significant improvement in performance of The Good Guys business.

Commenting on his departure, Murray said the decision to leave was a very difficult one to make.

“After 18 years with the company, it is time for me to take on a new challenge. I am proud to leave the business in such a strong position and the group will continue to go from strength to strength under Terry’s leadership.”

Commenting on his appointment, Smart said he is excited to take on the role of group CEO.

“In JB Hi-Fi and the Good Guys, we have two of Australia’s most loved, respected and successful retail brands. Both businesses continue to be well positioned to maximise the opportunities ahead of them and I look forward to working with the two best retail management teams in the business.”

Smart’s successor as managing director of The Good Guys business will be named in due course.

Premier Investments confirmed the appointment of Murray to the role of CEO Premier Retail and Premier executive director, commencing 4 October 2021.

Premier Chairman, Solomon Lew, said, “On behalf of the Board, I am delighted to announce Richard’s appointment to the role of CEO Premier Retail.

“Richard is unquestionably one of the best retailers in Australia, having delivered significant growth, transformation and shareholder value during his career at the JB Hi-Fi Group. Richard’s appointment continues Premier’s track record of recruiting and retaining the best executives in the industry.”