SKIP TO MAIN CONTENT

Ex-Masters boss to guide Bunnings UK

Bunnings has appointed former Masters boss Matt Tyson to a board that will advise it on its UK expansion through the acquisition

2 min read

Published

Source: AAP


Skip to article content

The executive who led the loss-making Masters business will advise its biggest rival Bunnings on its foray into the UK.

Bunnings has announced Matt Tyson, former managing director of Masters, as one of three members of an advisory board to its recently acquired Homebase home improvement chain in the UK.

Mr Tyson led Woolworths' failed big box DIY chain Masters for nearly two years before quitting in February.

Bunnings boss John Gillam admitted Mr Tyson was "an interesting choice" but said he had valuable experience in the UK.

"Matt knows us very well because he's been here competing against us," Mr Gillam told analysts during parent company Wesfarmers' strategy briefing on Wednesday.

News that makes sense

Your trusted source for staying up-to-date with the world around you. Get free daily news updates and analysis, straight to your inbox.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

"He understands what Bunnings is and maybe understands things we don't understand - strengths and weakness that we are not aware of.

"He is also a very well-credentialled UK retailer."

Before Masters, Mr Tyson worked for Europe's largest home improvement retailer, Kingfisher's B&Q chain, including as chief executive of its Asian business from 2008 to 2010.

Mr Tyson is also consulting to Woolworths on its exit of the home improvement sector.

He joins Archie Norman, Wesfarmers deputy chairman and the former boss of UK retailer Asda, and Michael Mire, former partner of global management consulting firm McKinsey & Company, on the advisory board.

Wesfarmers bought Homebase for nearly $700 million in February and plans to gradually convert the chain into Bunnings outlets.

Mr Gillam said the Homebase turnaround has begun, with a trial of Bunnings pilot stores to begin later in 2016.


Get SBS News straight to your inbox

Sign up now for daily news from Australia and around the world. You can also subscribe to Insight's weekly newsletter for in-depth features and first-person stories.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

Follow SBS News

Download our apps

Listen to our podcasts

Get the latest with our News podcasts on your favourite podcast apps.

Watch on SBS

SBS World News

Take a global view with Australia's most comprehensive world news service

Stream now

Watch the latest news videos from Australia and across the world