Michael Hill International Limited appoints new CEO

Jewelry retailer, Michael Hill International Limited, has appointed Phil Taylor as the new CEO on March 6.

The retailer commits itself to finding a world class CEO to lead the group in the future and has picked Taylor following an extensive international search process.

Taylor has been with Michael Hill since 1987 and was appointed chief financial officer in 2003. Over his time with Michael Hill, he worked closely with the CEO and has managed the growth of the company from 10 stores in New Zealand to 328 stores across two brands and four countries. Annual revenues of Michael Hill have grown from $8 million to $551 million.

Emma Hill, chair of Michael Hill International Limited, has nothing but praise for Taylor's assumption to the new yet challenging office.

"Phil has a deep understanding of our business and is well respected throughout the group. The board has been particularly impressed by the fresh perspectives and decisive action that have been evident since Phil was appointed as acting CEO," she said in a press release statement on Sunday.

The board and the employees in Michael Hill are excited by Taylor's appointment as he sees to unlock new opportunities and new streams of value for the company.

Taylor, on the other hand, is delightful of the role that has been offered to him and expressed his thanks to the board of Michael Hill for its faith and trust in his abilities. He recalls having worked with the company for nearly 30 years and looks forward to leading Michael Hill.

Taylor acted as an interim CEO after Mike Parsell stepped down from the role in August of last year. The decision came as a good time of change in leadership as Michael Hill International Limited was performing well and already had a stable and experienced leadership team. Parsell has led Michael Hill for 16 years and stayed until the jewelry retailer branched out to 300 outlets across the globe.