Costco Australia’s CEO to retire
By Dean Blake
Costco Australia’s chief executive Patrick Noone has confirmed he will retire at the end of 2023 after more than three decades at the company.
Under Noone’s leadership, Costco’s local footprint has grown to 15 stores across Australia, as well as one in New Zealand.
Noone will be replaced by Chris Tingman from Costco US, according to a report in The Australian.
“I never had any doubt that we would be able to offer the value and the imported goods and the different merchandise that we have at Costco,” Noone said.
Restaurant Brands’ interim group CEO made permanent
By Dean Blake
Quick-service franchisor Restaurant Brands has named Arif Khan as its group chief executive effective 1 September 2023. Khan has been acting as acting group CEO since April, following former boss Russel Creedy’s retirement.
Khan has spent more than 25 years in the QSR and hospitality industries, and has served as CEO to Restaurant Brands’ New Zealand operations, as well as global chief operating officer.
“Arif is a skilled and trusted leader,” chairman José Parés said.
“He has a deep understanding of our sector, and a proven track record in the delivery of growth and innovation. Arif has the right commercial acumen to lead the Group forward, both through the near-term challenges of the current inflationary environment, and in the delivery of long-term shareholder value.”
Restaurant Brands’ share value has fallen from $12 per share to $4 per share over the course of the past 12 months.
Uniqlo names president to lead international expansion
By Tong Van
Uniqlo’s parent company, Fast Retailing, has named Daisuke Tsukagoshi as the new president, COO and executive director of Uniqlo as the company seeks to accelerate international growth.
Tsukagoshi, currently serving as Uniqlo’s global CEO of daily operations and a board member, will succeed Tadashi Yanai, who will continue to lead the managerial decision-making and business expansion processes in his new position as executive director, chairman, and CEO of Uniqlo.
Joining the group in 2002, Tsukagoshi took on the group’s senior executive officer role in 2019 before being appointed as the global CEO of daily operations last year.
The management shuffle will take effect from September 1. The appointment marks Uniqlo’s first change in president since 2005.
“The company aims to further strengthen management function through the creation of a team that brings together managers in each market and accelerates a framework that drives the company’s teamwork-focused Zen-in Keiei management principle,” Uniqlo said in a statement.
Fast Retailing recently posted a 22 per cent jump in profit for the nine months ended May 31 as its business in China continued to recover from a pandemic slowdown. The company raised its full-year profit forecast to $2.7 billion from $2.6 billion.
