Hills CEO Ted Pretty departs

Ted Pretty is parting ways with Hills Limited after nearly three years as CEO and group managing director.

Hills began its major restructuring into a technology-focused company immediately following Pretty’s appointment as group managing director and CEO in 2012.

He also oversaw for the deal licensing Hill’s home hardware brand to Woolworths, pushing the company’s revenue to $448 million and $24.8 million profit in the 2014 financial year.

Chairman Jennifer Hill-Ling said in a statement to the ASX: “The board has recently reviewed and refined the company’s strategy and committed to consolidating its existing business and growing, both organically and by acquisition, within Australia and New Zealand.

“After discussing the refined strategy with Ted, we have agreed that this is the time for a change in executive leadership.”

Hills signed a number of distribution deals with communications, satellite, audio visual, surveillance and security vendors, including Axis, Dell, Panasonic and Hitachi.

Hills hired senior Ingram Micro figure David Lenz in March to spearhead its push into physical security and pro AV. Security subsidiary Lan 1 also landed a deal with British security vendor Sophos in August.

Pretty held a number of executive positions at high profile companies prior to joining Hills, including seven years as group managing director of Telstra, four years as executive director of Macquarie Capital, four years as chairman of Fujitsu Australia and five years as chairman and director of CoreLogic RP Data. Most recently, he was chairman and director of NextDC.

He continues as chairman of his own private equity business, Darwin Capital, and will remain on the board of technology companies Tech Mahindra and the Australian Information Industry Association.

Pretty will be replaced by current COO Grant Logan effective immediately. Logan was appointed COO in February, four years after joining the company as CFO. 

According to the ASX, Hills Ltd share price has dropped 60 percent in the last 12 months.

Pretty has been reached for comment.