Catch.com CEO Resigns In Reshuffle
Wesfarmers is shaking up its Catch.com digital marketplace, after it failed to bloom in line with numerous other e-commerce businesses that benefitted from the pandemic.
Catch’s CEO Peter Sauerborn will resign from the business on June 30, with Nicole Sheffield, the digital boss at Wesfarmers, taking over leadership from July 1.
Wesfarmers paid A$230 million for Catch in June 2019. Despite the accelerated growth of online shopping in the midst of the pandemic, Catch’s EBIT loss bled to $44 million over the last six months of 2021, with total revenue falling 4.3 per cent to $315 million. Total transaction value grew by a mere 1 per cent.
During that same six-month period, Wesfarmers increased its recruitment and marketing spend, but Catch only managed to add 100,000 new customers in that time.
The underperforming Catch will be removed from Wesfarmers Kmart retail division, which also includes Target, and moved into Sheffield’s new OneDigital group.
Sheffield (pictured below) came to Wesfarmers last August with a wealth of experience, including working as Australia Post’s executive general manager – community and consumer, and as chief digital officer for News Corp.