• Nick Wells appointed as new Group CEO, succeeding Terry Smart
• Terry Smart to retire on 3 October 2025 after leading the company's growth and repositioning
• Nick Wells has been with JB Hi-Fi for 16 years, serving as COO and CFO

JB Hi-Fi Limited has announced the appointment of Nick Wells as the new Group Chief Executive Officer, succeeding Terry Smart who has decided to retire on 3 October 2025. Nick Wells joined the company in 2009 and is currently the Group's Chief Operating Officer and an Executive Director, having been appointed to the Board in 2021. Prior to his appointment as COO in October 2024, Nick was the Group Chief Financial Officer for 10 years. The Board has expressed its gratitude to Terry Smart for his significant contribution to the company over many years, including leading the repositioning and performance improvement of The Good Guys business and driving significant growth in sales, profit, and the share price since his reappointment as Group CEO in 2021. Terry has worked closely with Nick and is confident that the Group will continue to thrive under Nick's leadership, supported by the company's experienced and talented management team. Nick Wells is excited to take on the role of Group CEO and build on the great work done by Terry, stating that the company's brands are in great shape and well-positioned to maximize the opportunities ahead.