Metcash has today announced that Chris Baddock, CEO of the Liquor pillar, has retired from the role due to health reasons.
Since joining Metcash in 2019, Baddock has overseen enormous growth in the Liquor pillar with sales increasing almost 40% over the past three years. The growth has been across all key areas of the business including sales to retail and on-premise customers, and in owned and exclusive brands.
Baddock is stepping down with the business well positioned for continued success. He leaves a formidable legacy which includes a successful growth strategy, as well as an experienced and highly engaged management team that is well regarded by the business’ customers and suppliers.
John Barakat, the Liquor pillar’s General Manager of Merchandise and Operations, will lead the Liquor team while the Company undertakes an extensive search for a successor. The search will include both internal and external candidates.
Baddock plans to have a four-month break and will then take up a part-time advisory role with Metcash to assist with the ongoing growth and success of the Liquor pillar.
Metcash Group CEO, Doug Jones said: “Chris has made a significant contribution to the Liquor pillar and Metcash more broadly, and the Board and I sincerely thank him for his efforts and wish him all the best for a full recovery. I am pleased to have Chris on board in an advisory capacity as we work together towards our purpose of Championing Successful Independents, a purpose that I know Chris is a strong proponent of.”
Baddock was the headline speaker at the Drinks Association's Network Breakfast in June this year where he revealed the full-year results for FY23, showcasing another record-breaking year of sales and earnings.
Metcash recorded an overall group revenue increase of 5.7%, reaching an all-time high of $18.1 billion. The group's underlying EBIT reached a record $501 million, reflecting an 8.1% rise.
The liquor business outperformed the rest of the group, with wholesale revenue sales up 8.3% to achieve a record-breaking $5.1 billion, while EBIT increased by 8.9%. Over the past three years, ALM revenue sales have grown 37.7%, and an impressive 43.0% in EBIT.
At the time of his presentation, Baddock said: "Liquor revenue grew 8.3%, and it's the first time we've been over $5 billion. To give you an indication of just how much we've grown, that was $3.6 billion four years ago when I started in this business."
"It's been a massive team effort. A lot of the hard work was laid down before I started, and we've just taken it to the next level and I believe we can take it to another level again with some of the exciting things we are doing. We are only halfway through our agenda of being the best we can be.”
Reflecting on ALM's sustained growth and outstanding three-year track record, Baddock highlighted the critical factor behind the company's strong performance: its single unifying focus on championing successful independents.
The Drinks Association wishes Chris all the best in his recovery.