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Tag: viva

  • Revitalizing Retail: Viva Energy Appoints Former Myer Exec Teresa Rendo as New CEO

    Revitalizing Retail: Viva Energy Appoints Former Myer Exec Teresa Rendo as New CEO

    Viva Energy Group, a prominent oil company, has announced the appointment of Teresa Rendo as the Chief Executive Officer (CEO) of its retail division, Convenience and Mobility.

    Experienced Retail Executive Joins Viva Energy

    Teresa Rendo joins Viva Energy with a treasure trove of experience amounting to more than 25 years. She has held significant roles at renowned retail giants like Big W and Woolworths. Her most recent role was as the Managing Director of Myer’s Apparel Brands.

    Scott Wyatt, the Managing Director and Group CEO of Viva Energy, expressed his pleasure in welcoming Teresa to the executive leadership team. He described her as a seasoned retail leader who boasts of in-depth expertise in diverse areas such as trading, product sourcing, and innovation, as well as operational efficiency in multi-brand environments.

    Rendo’s appointment comes during a challenging period for Viva Energy’s Convenience and Mobility business. Sales had seen a downturn of 11.4% in the most recent quarter compared to the same period last year. The company also had to undertake an extensive search for a CEO following the resignation of Jevan Bouzo in September of the previous year.

    High Expectations for the New CEO

    Wyatt has high expectations for Rendo in her new role. He stated that her focus on robust retail execution will be crucial in enhancing customer experience, stimulating revenue growth, and maintaining operational excellence.

    Rendo expressed her enthusiasm for developing a top-tier convenience business. Wyatt indicated his confidence in her ability, stating that he believes Rendo will significantly expedite the company’s progress towards achieving this objective.

    Rendo will assume her duties from the interim CEO, Jennifer Gray, starting in July.

    Questions & Answers

    Who has been appointed as the new CEO of Viva Energy’s Convenience and Mobility business?
    Teresa Rendo, a seasoned retail executive with over 25 years of experience, has been appointed the new CEO.

    What are the challenges she will face in her new role?
    Rendo is joining during a challenging period for the business, with recent sales falling by 11.4% from the previous year. She will also need to enhance customer experience, stimulate revenue growth, and maintain operational excellence.

    Who will Teresa Rendo be succeeding?
    Rendo will be assuming her responsibilities from the interim CEO, Jennifer Gray.

  • Viva Energy reports convenience sales decline in third quarter

    Viva Energy reports convenience sales decline in third quarter

    Viva Energy’s Convenience and Mobility (C&M) division has experienced a decrease in both convenience sales and fuel volumes in the third quarter. This shrinkage is attributed to the ongoing challenges within the retail fuel industry, as well as a reduction in the number of operational stores.

    Fall in Convenience Sales

    The company has reported a 12.5% drop in convenience sales, slipping down to $392 million from $448 million compared to the same period last year. However, excluding tobacco sales, the figures remained stable. Tobacco sales, on another note, witnessed a 15% dip year on year, consistent with the overall declining trend for the product category. However, the tobacco sales remained consistent on a month-to-month basis for this quarter.

    Margin Increase and Cost Reductions

    Despite the drop in sales, the convenience gross margin saw an increase to 41%, a rise of 3.5 percentage points. This increase was primarily driven by alterations in the product mix, range, and pricing. Consequently, the company assured that it remains on target to achieve $35 million in cost reductions and synergies during the second half of the fiscal year, achieved through system and organization consolidation.

    Store Openings and Future Plans

    The company has opened 21 new On The Run (OTR) stores this year, with an additional 15 currently under construction, expected to be completed by the end of the year. Six conversions of Liberty Convenience are also planned for the fourth quarter, with a few openings rescheduled to January to better match seasonal demand.

    C&M also plans to expand its Scan Pump Save app across its express network during the fourth quarter, aiming to provide customers with a unified digital experience and the ability to pay at the pump at company-controlled sites.

    Leadership Changes

    In related news, Jennifer Gray has been appointed as the interim CEO of the C&M division. As the company begins the search for a permanent CEO, Gray will be supported by independent non-executive director John Joyce. Her primary focus will be to drive top-line growth, capture synergies and cost reductions, and leverage common systems to improve operational performance.

    Questions & Answers

    What caused the decline in Viva Energy’s convenience sales and fuel volumes?
    The decrease in both convenience sales and fuel volumes is attributed to the ongoing challenges within the retail fuel industry and a reduction in the number of operational stores.

    What is the key cause of the increase in the convenience gross margin?
    The increase in convenience gross margin was primarily driven by alterations in the product mix, range, and pricing.

    What is the future plan of the C&M division regarding the Scan Pump Save app?
    C&M plans to expand its Scan Pump Save app across its express network during the fourth quarter to provide customers with a unified digital experience and the ability to pay at the pump at company-controlled sites.