Wesfarmers’ Post

I wasn't old enough to witness Sean Summer's first Pick n Pay's tenure, this one seems to be a painful process but here's my key points from yesterday's results: 1. These are the worst results in the Group's history and yet Sean has presented a 6-point plan that the market seems to like. Share price was up +6% 2. The recent developments in PnP's store real estate tells you exactly where the green shoots have been for the business over the last few years. 3. This is probably the worst period to undergo an overhaul of PnP's size: a depressed consumer plus high interest rate environment is fatal for any balance sheet. Thank God for Boxer & the impending IPO. 4. Sean continues to point to poor capital management as one of the reason the business is where it is today. In one interview he said: "Cutting margins by 3% and keeping the same overheads was always gonna end in tears.." referencing the QualiSave project under Peter Boone. 5. The Recapitalization program shows Sean is not scared to make the hard unpopular decisions. The Ackermans finally giving up control could turn out to be a beautiful thing for PnP's governance.

Apologies to those that tried to reach me about the CEO role at Stockport MBC earlier this week, I am now back at work and ahead of the closing date around for much of the next two days, so please reach back out / and I'll return your calls #CEO #LocalGovernmentleadership #StockportMBC #CouncilCEO

Perfectly articulated. Succession Planning / Exit Strategy. All equally important.

I LOVE today's article by Eileen Smith on Jason Kelce's retirement from the Philadelphia Eagles. It breaks down & compares insights with Sylvia Ann Hewlett's updated study of Executive Presence and Kelce's departure from how he engages, what he says, how he says it and how he shows up. https://lnkd.in/dHS3hv_i #salesenablement #salescoaching

Interesting article from Mercer on how the NFL might open up ownership to private equity interests. Traditionally the NFL has preferred individual ownership and keeping that ownership within the family. This move would be a pivotal move to allow for greater exit options for owners but presents both pros and cons to consider. Many of these pros and cons will be similar for Middle Market businesses being sold (partially or wholly) to private equity firms. The advantages? Liquidity and an ability to take chips off the table. The negatives, culture & values along with short-term thinking. This is why exploring your exit options long before a sale is important. Selling to private equity will be filled with potential compromises. Those compromises might be worth it to you...or might not. Thinking about it a day before close isn't a great time to ponder such complexities. This is why exit planning is important. Digesting complex and often conflicting options takes TIME to make an assessment properly. https://bit.ly/3T6XKZJ

Jerry Jones paid $140 million to buy the Dallas Cowboys in 1989. Today, the Cowboys are worth an estimated $9.2 Billion. That is compounding at 18.2% annually. Dyal Homecourt is mentioned in the article below as one of the six firms to watch as the NFL softens its ownership rules. We look forward to our April 4th conversation with Aaron Glenn discussing Blue Owl's Dyal Homecourt strategy. Firethorn Wealth Partners

🌟 Affinity Private Wealth Secures Its Independent Future 🌟 Affinity Private Wealth has announced an ambitious succession plan to remain independent and owner-managed. The strategic move, led by the original founders, introduces Michelle Tring and Elizabeth Shaw as new shareholders, while Sean Crisp has increased his stake. CEO David Stearn emphasized their commitment to staying independent, avoiding trade sales, and upholding their core values. This approach ensures the continuity of tailored financial strategies for their clients. 💼 👉 Follow us for more updates! #PrivateWealth #SuccessionPlanning #WealthManagement #Independent #Leadership #FinancialServices

It is with mixed emotions that we announce the retirement of Bob Pleban, the founder & CEO of RPI. Dom LaPore, with over 30 years of leadership experience, will be stepping in as the new CEO starting today, March 1st. Read more in our Press Release. https://lnkd.in/e73AbW5e

Each spring, the owners of the 32 NFL teams get together to discuss a variety of topics, such as where the Super Bowl will take place. This year's meeting is being closely watched by Wall Street because of a planned discussion about whether to start letting team owners sell stakes to private-equity firms and other institutional investors. Currently, the NFL only sells stakes to wealthy individuals. But skyrocketing team valuations are making it hard for anyone but the richest of the rich to participate. The Tennessee Titans, for example, are now worth $4.4 billion, up 26% from last year, according to Forbes. At this year's meeting — taking place in Orlando, Florida, from March 24 - 27 — the team's owners are expected to discuss whether to allow institutional investors, such as venture firms and private equity funds, to buy passive stakes in teams Full Story Business Insider Thank you Alex Nicoll for working with me on this story! https://lnkd.in/gvEZ8HhY

Rite Aid’s Bankruptcy Exit: Real Change or Business as Usual? Rite Aid has emerged from bankruptcy with the “Rite Aid 2.0” plan, but is this a true fresh start or simply a new chapter of old habits? In a recent blog post, Ted Gavin digs into the viability of Rite Aid’s restructuring efforts, examining: 1. Business Fundamentals 2. Leadership Capabilities 3. Financial Resources Read the full article: https://lnkd.in/eMHPMrpr #BankruptcyLaw #BusinessRestructuring #FinancialStability #RetailSector #RiteAid