Introduction
Rick is an experienced Business Executive.
He has a tertiary qualification from University College Cardiff and is a Fellow of the New Zealand Society of Accountants and a Fellow of the New Zealand lnstitute of Management
Over the years he has carved out a successful business record in the retail, finance and property arenas. In April 2O15 he resigned from publicly listed company Smiths City Group Limited having completed 25 years of service, the last sixteen of which were as Managing Director/Chief Executive. During this time the Group experienced tremendous success, both financially and reputationally, in one of the most intensely competitive market sectors. However the time was right for both himself and the company for a new management team to take over the reins.
Given his own strong views that long term ex-CEOs should not "hang around" his resignation included stepping off all the Group Company Boards.
As an Executive, Rick's main strengths centre around an ability:
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to put the customer first;
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to think strategically;
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to accurately analyse opportunities as they arise; and,
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to analyse and measure performance from a financial viewpoint and then act decisively to execute any necessary actions by working with and leading people in a way that ensures they can achieve not only the required business results but often results beyond their own expectations.
As a Director, his main strengths centre around:
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a detailed understanding of the difference between governance and management;
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a full understanding of the legal requirements around being a Director including the identification and management of risk;
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an understanding of strategy, planning and then managing commercial performance; and,
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an understanding of key relationships including those around the Board table and with key stakeholders.
Rick has been married to Sarah for over 20 years and has a son Reece who is currently working in London and a daughter Kate who is studying law and politics at Otago University.
Outside of business, Rick's main interests centre around family, travel and sport (mainly from the armchair these days although he does enjoy the odd round of golf).
Brief Summary Of Career As MD/CEO Smiths City Group
As Managing Director the role involved being a full member of the Board with all the governance responsibilities that go with being a Director of a publicly listed company. It included being responsible for all communications with shareholders, the NZX and all staff.
As Chief Executive the role involved being responsible for the financial and legal compliance performance of the complete Group. Retail sales of furniture, electrical appliances and sporting goods underpinned the company performance. The finance company had some 75000 active accounts and involved borrowings of some $70 million. The property company owned a property in Colombo St, Christchurch which recently sold for $20 million and undertook property developments on stores Smiths would then trade from.
From the results viewpoint key statistics are:
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Smiths City from 1986 to 1991 was a nationally represented retail business. The company was placed into receivership on 1 May 1991 and having retrenched to a South Island only business in 1998 became the first New Zealand public company to trade its way out of receivership.
- In 2001 it returned to the NZX.
- In 2004 it returned to the North Island via the acquisition of L V Martin and Meikles.
- It continued to expand via new store openings through early and mid-2000s.
- From 2009 to 2015 it successfully negotiated the combined impact of global financial crisis and the Christchurch earthquakes.
- In the full time of Rick's tenure as CEO/MD it made sales of over $3 billion and made a profit every financial year.
lf one matter were to be singled out as the key to the Smiths turnaround it would have to be the commitment to putting the customer first - right through from the selection of product (including the need to manage significant customer, technology and logistics change), to the manner it was displayed in store, to the staff engagement with the customer, to the delivery and back up service.
In addition to his involvement with Smiths, for many years, Rick served (pro bono) as Chair of Ferrymead Park Limited stepping down in December 2015.
He is also (pro bono) a member of the Board of Canterbury United, the Canterbury representative soccer club.
