JB Hi-Fi
#2497
Rank
$5.93B
Marketcap
Australia
Country
Mr. Terry David Smart (Group CEO & Exec. Director)
Mr. Nick Wells (Group CFO & Exec. Director)
Mr. Cameron Trainor (Managing Director of the JB Hi-Fi Bus.)
Summary
History
1974–1999
JB Hi-Fi was established in the Melbourne suburb of Keilor East by John Barbuto in 1974. Barbuto sold the business in 1983 to Richard Bouris, David Rodd and Peter Caserta, who expanded JB Hi-Fi into a chain of ten stores in Melbourne and Sydney turning over $150 million by 2000, when they sold the majority of their holding to private equity. It was subsequently floated on the ASX in October 2003.
2000–2009
In July 2004, JB Hi-Fi bought 70% of the Clive Anthonys chain in Queensland.On 13 December 2006, JB Hi-Fi acquired the Hill and Stewart chain of 11 electronics stores selling and operating in New Zealand for NZ$17.5 million . JB Hi-Fi later established stores under their own JB Hi-Fi brand in 2007, and closed all Hill and Stewart stores in 2010.
2010–2019
In 2010, there were 10 JB Hi-Fi in New Zealand. In 2011, there were 13.On 22 September 2015, a man with Down Syndrome was refused entry into a JB Hi-Fi store in Brisbane, Australia, after being confused for another person who had been banned from the store. The resulting media attention resulted in CEO Richard Murray publicly apologising to the family.On 13 September 2016, JB Hi-Fi announced its acquisition of The Good Guys, for $870 million, the acquisition resulted in JB Hi-Fi group enlarging its share of the Australian home appliances retail market to 29% and growing its share of the consumer electronics retail market to 24%.In August 2018, JB Hi-Fi was ranked as the equal 7th largest consumer electronics and home appliance retailer in the world.
2020–present
On 28 April 2021, it was announced that Richard Murray, JB Hi-Fi's CEO of seven years, would be leaving his role at the end of August to work alongside trader Solomon Lew at the latter's company Premier Investments. Terry Smart, the head of The Good Guys, was announced as Murray's replacement on the same day.
Mission
Vision
Key Team
Mr. Biag Capasso (Managing Director of The Good Guys Bus.)
Mr. Timothy Edwards (Managing Director of New Zealand)
Mr. Doug Smith B.A., BA (Hons) (Company Sec.)
Recognition and Awards
References
Mr. Terry David Smart (Group CEO & Exec. Director)
Mr. Nick Wells (Group CFO & Exec. Director)
Mr. Cameron Trainor (Managing Director of the JB Hi-Fi Bus.)
