SYDNEY, AUSTRALIA: Oldfields Holdings Limited (ASX: OLH) announced that Michael Micallef has been appointed as CEO and Managing Director of Oldfields, effective from 25 July 2022.

Mr Micallef has more than 10 years of executive leadership experience, most recently as Managing Director of Nisbets Australia and New Zealand.

At Nisbets, Michael led the business through substantial change including digital transformation during COVID that enabled a multi-channel marketplace, heightening the customer service experience and leading to significant growth in revenue and profit improvements across the group.

Michael is a passionate and customer focused leader who pivots quickly to adapt go-to-market strategies and is proven at identifying and consolidating opportunities through to execution.

Michael said, “I’m thrilled to be joining Oldfields, and to be a part of the team of such a notable Australian brand.

As we embark on our next stage of growth, innovation and digital strategy will be paramount so we can continue to serve our customers and drive market share.

Strong sustainable brands, a quality culture and a strong desire to succeed are attributes of most successful businesses – I look forward to building on these strengths at Oldfields”.

Oldfields Chairman, Mr Jonathan Doy thanked Mr Abela for his contribution to the Oldfields legacy over the last 6 years. Richard has rebuilt the business with its focus on Oldfields’ 100-year product heritage and quality reputation.

Together with the national management team, he has developed key relationships and won important National Accounts that will pay dividends in the years ahead in both divisions which has re-established Oldfields within the market as a significant player.

During this time Richard and the team onboarded new investors, re-established financing facilities whilst also navigating the business through the COVID pandemic.

The Oldfields Chairman together with the other Board members have asked Richard Abela to remain on the board so it can continue to utilise his expertise in supporting the business to fast track major initiatives that will continue Oldfields’ return to market leadership.

Mr Abela said, “I am very proud of the forward progress the business has made over the last 6 years and I want to acknowledge all the team at Oldfields for their dedication and hard work in bringing
this about.

The work completed under difficult and constantly changing circumstances is now starting to bear fruit and I look forward to continuing my engagement with the OIdfields business, working closely with Michael and the Board to see the building continue”.

Oldfields Chairman said the Board is very pleased to welcome Michael to the team and confirms this is an excellent blend of new energy and experience that will see Oldfields continue to regain its rightful position in the market.