‘I’ll Live To 100’: Gerry Harvey, 81, Won’t Step Down From Harvey Norman Any Time Soon
Harvey Norman boss Gerry Harvey, who is worth an estimated $1.8 billion, told shareholders at the company’s Annual General Meeting he has no plans to retire and claims he will live to at least 100 years old.
While answering shareholder questions during the AGM, the 81-year-old shut down any suggestions he would be stepping down from the helm of the Aussie electronics retailer.
“No … I saw my doctor the other day and he said I’ll live to 100,” Harvey said.
Harvey also told Fairfax newspapers he looked to 90-year-old Rupert Murdoch as inspiration for staying busy well past his retirement.
“So then I look at Rupert Murdoch, and that bugger’s nearly 90, and he’s still mentally and physically ok, so he’s my measuring stick. You’ve got to be fairly optimistic,” he said.
Harvey was overwhelmingly re-elected as chairman of Harvey Norman on Wednesday, as the company reported a 160% jump in pre-tax profits for the first four months of the 2020-21 financial year.
Overall, the retailer posted a 28.2% sales revenue increase compared to the same period in 2019.
Its pre-tax profits for the first quarter more than doubled, with $341.11 million recorded compared to $131.17 million in the previous year.
Harvey Norman chief executive Katie Page said the pandemic and work-from-home boom will continue to influence the home lifestyle and technology product categories.
“The big change we have seen globally … is the psychology of people wanting to spend time with their families in their communities,” Page said.
“I don’t think I have seen a stronger time where people have had a reset because of Covid and I don’t think that is going to change any time in the future quickly.”