Defining Moments: Holly Kramer

Retail chief Holly Kramer learnt from some of the toughest in the business.

Former Telstra chief Sol Trujillo has been called many things — brash, undiplomatic, culturally insensitive. Holly Kramer uses a different word: inspirational.

The outgoing chief executive of discount clothing chain Best & Less says her former boss helped shape her belief that the ­destiny of a business is not predetermined.

Kramer, 50, was Telstra’s group managing director of product management during ­Trujillo’s controversial stint from 2005-09 as CEO and credits him with turning around the fortunes of the declining telco through a single strategy decision: the building of a “world-class” mobile network. That network, which his ­successor, the recently retired David Thodey, retained and improved upon, became Telstra’s point of difference.

“Sol has been much maligned for some valid reasons but he did an amazing thing in turning Telstra around,” she says. “When I started we had narrowband internet and when I finished we were talking cloud services and mobile was flying. He showed me that you can make a really gutsy call and, with the right support, you can turn your business down a completely different path. That’s what gave me the confidence to have a crack at turning around Best & Less.”

Formerly a senior executive of Pacific Brands, following periods holding senior positions at Ford and the now-defunct internet player eCorp, the US-born Kramer took on the top job at Best & Less in 2012. “The company was really not in great shape — it was under-invested, it had declined in sales and declined in profit,” she says. But she saw an opportunity. “I’d been in so many big corporates but I thought I’d like a smaller business I could get my arms around and really build the culture,” says Kramer, who is married to former News Ltd executive and Bulldogs CEO Malcolm Noad, with whom she has a daughter, Jessica, 11.

Kramer may have taken inspiration from Trujillo, but instead of the bluster that defined his reign at Telstra (he once dismissed a certain search engine with the phrase “Google Schmoogle”) her leadership style has been much more of-the-people. She refers to each of the 4000 members of staff nationwide as “Besties” and more than 1500 of them follow her on ­Instagram, with her account acting as an online community for employees across 200 stores.

Donning a cow-print onesie to participate in the Vinnie’s CEO Sleepout charity event soon after starting at Best & Less was not part of the initial plan. But thanks to generous donations from staff and customers, she became the ­highest fundraiser for 2013, a triumph that ­galvanised the company. In June, she’ll participate in her third Sleepout, joining Vinnies in its push for more female business leaders to take part in its 10th anniversary event.

Kramer says she has helped create a new ­culture at Best & Less by building on a core set of values such as “being down-to-earth” and “having empathy for the customer”. She now feels the time is right to make a “lifestyle change”. She’ll finish up with Best & Less at the end of the financial year and is speaking to a number of companies about directorships. She also plans to focus on not-for-profit work and teaching business students.

“I feel comfortable that we’ve really turned the business around financially and I’ve come in and done the things I wanted to do,” she says. “I feel like it’s a good time to make a transition. Also, personally, I’ve now amassed enough experience that I can be a good contributor back to businesses at a board level.”

The Australian Institute of Company ­Directors last month called on all boards to ensure 30 per cent of directors are women and asked ASX 200 companies to meet the new ­target by the end of 2018. “There’s obviously growing demand for women directors and there’s still not a huge supply of women who have executive and chief executive experience, so it’s a good time to be looking,” Kramer says.