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Nick Wells Appointed To JB Hi Fi Board As Terry Smart Takes Top Job

Nick Wells who has been a key, but often silent executive at JB Hi Fi, has been promoted to the retailer’s board, as former CEO Terry Smart officially takes over the running of the business.

Wells who joined the business in 2009 from Deloitte has been responsible for managing a key part of the business in his role as Chief Financial Officer.

Nick Wells left seen with Terry Smart Centre & exiting Richard Murray right

His current role at the CE and appliance retailer were previously held by departing CEO Richard Murray and incoming CEO Terry Smart with Wells seen as a future CEO to run the business.

In a statement issued to the ASX today the Company said ‘In April 2021, JB Hi-Fi announced that its Group Chief Executive Officer, Richard Murray, would be leaving the Company for a new role at the end of August 2021, and that he would be
succeeded by Managing Director of The Good Guys and former JB Hi-Fi CEO, Terry Smart.

Following a smooth and successful transition period, Richard will leave the Company and Terry will take over as Group CEO and join the Board, with effect from today.

JB Hi-Fi Chairman, Stephen Goddard, said “The Board thanks Richard for his outstanding contribution to the Company over the past 18 years, wishes him all the best for the future and looks forward to Terry taking on the role of Group CEO and continuing to deliver on the Group’s
previous success.”

As foreshadowed in the Company’s previous announcement, Group Chief Financial Officer, Nick Wells, will also join the Board as an Executive Director with effect from today.

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