Michael Hill CEO Daniel Bracken dies suddenly

Jewellery retailer Michael Hill has announced the sudden death of its Chief Executive Officer on Wednesday.

Jewellery retailer Michael Hill has announced the sudden death of its Chief Executive Officer Daniel Bracken.

In a brief statement to the Australian Securities Exchange (ASX) on Wednesday, the company said Mr Bracken died following an adverse reaction to medical treatment for an underlying condition.

“The board, executive and all of the Michael Hill team express their deepest and sincerest condolences to his family and friends,” it said.

“On behalf of the board, we thank Daniel for his outstanding leadership and dedication to the Michael Hill Group and our people over the past seven years. He will be dearly missed.

“Daniel was a passionate retailer, an innovative and strategic thinker and an inspiring leader, who transformed the Michael Hill group into the company that it is today.”

Michael Hill Chief Executive Officer and Managing Director Daniel Bracken. Picture: Richard Walker

The tragic news came just days after the company reported a slight dip in revenue for the first half of the financial year. Sales dropped from $362.7 million to $360.2 million for the six months to the end of December.

Mr Bracken made his last public statement to the ASX on Friday following the news.

“Whilst we are disappointed with our overall EBIT result for the half, the business was comping record prior year sales in both October and November, with eight fewer stores,” he said.

Michael Hill says its CEO will be dearly missed. Picture: Richard Walker

“Our gross margin is improving, underpinned by product and brand initiatives, despite the headwinds of elevated gold prices. Furthermore, the business is committed to delivering cost reductions through the second half.”

He joined Michael Hill in 2018, bringing with him a wealth of experience from his roles at Myer, where he served as Chief Merchandise and Customer Officer and Deputy CEO, and as CEO of Apparel Group, which owns the Sportscraft, Saba, and Jag labels.

Originally published as Michael Hill CEO Daniel Bracken dies suddenly