Graham has decided not to seek re-election to the board, a decision BSR Group Chairman Garry Thyer said he has accepted with great regret.

"Rex played a vital role in the development of the new BSR Group, initially as a successful and vastly-experienced retailer and later as a member of the group's first-ever board. His hard work, advice and steady influence in the early days of the group were invaluable and the BSR Group is undoubtedly a stronger business because of his involvement.

"Rex is something of an industry icon and I know that our board, staff and fellow BSR retailers would all echo my sentiments when I wish him a long and enjoyable retirement. He has earned it," Thyer said.

Graham, 62, said that after almost four decades in the industry he was looking forward to beginning another phase of life.

"There is always a degree of sadness when you leave behind something you love but the time has come for me to take a step back. I've made many great friends and had many wonderful experiences, and now I look forward to spending more time with my family and getting around to doing the things I've always wanted to.

"Looking back, I'm particularly proud of the way Betta Electrical retailers pulled together and worked through that period of uncertainty prior to the creation of the BSR Group. I take immense comfort in knowing that I'm leaving the group in excellent hands and with a bright future ahead of it," said Graham.