Bill Wavish has outlined his “fix-it” plan to shareholders for getting Endeavour Group back on track and recovering some of the $5.6 billion of market value lost by the pubs and liquor business over the past year to “pet projects” and diminished confidence in its strategy.

The former chairman of Myer and Dick Smith set out his agenda in a 22-page slide deck sent to fund managers on Monday. It proposed a two-phased strategy beginning with a review of the Dan Murphy’s chain, which would be led by the board, in tandem with a probe of the financial accounts, including a focus on costs, staffing and rostering.