COURTS Asia Limited Announces Group CEO Terry O’Connor’s Transition To Executive Advisor
Singapore, 20 June 2019 – COURTS Asia Limited today announced that Terry O’Connor, Group CEO, will transition into an Executive Advisor role with effect from 1 July 2019 and has resigned from the Board. With the acquisition of COURTS Asia Limited by Nojima Corporation now completed, Terry expressed his desire to relinquish operational responsibilities and support the Group in an advisory capacity. As Executive Advisor, Terry will provide oversight on stakeholder relationship management and the ongoing integration process to the Company.
Under Terry’s 20 years of leadership, COURTS has undertaken a strategic transformation journey towards solutions selling, omni-channel retailing, driving market leadership in electrical, IT and furniture categories, transforming offline stores into experience centres for consumers as well as expanded into Malaysia and Indonesia.
Terry O’Connor said, “I am privileged to have led a wonderful team at COURTS in Singapore, then Asia, through a period of transformation and growth. We have achieved many milestones together and I feel extremely proud of leading such a talented team. Having facilitated the ownership change for COURTS from COURTS Plc in 2004 to private equity owners and now to Nojima Corporation, a long-term strategic investor, it is an opportune time for me to transition into a different role with the Company.”
The COURTS Asia Board expressed their utmost gratitude to Terry for building COURTS into a leading household name and his support in the integration process. The Group is in advanced stages of the hiring process for a new Group CEO.
About COURTS Asia Limited
COURTS Asia Limited, the holding company for COURTS (Singapore) Pte Ltd, COURTS (Malaysia) Sdn Bhd and PT COURTS Retail Indonesia is a leading retailer in Southeast Asia. It is owned by Nojima Asia Pacific Pte Ltd, a wholly owned subsidiary of Nojima Corporation. Listed on the Tokyo Stock Exchange, Nojima Corporation, a leading electrical appliance retail chain, operates over 850 stores and has a market capitalisation of S$1.4 billion and revenues of S$6.1 billion.
With its roots as a furniture retailer from the UK, the COURTS brand was established in Singapore and Malaysia in 1974 and 1987 respectively, and it entered Indonesia in 2014. Today, COURTS operates more than 70 stores across three markets, spanning over 1.4 million sq. ft. of retail space. It has expanded its range to include electrical, IT and furniture products, as well as complementary home solutions for a seamless one-stop home shopping experience. Constantly innovating to improve the shopping experience, the retailer continuously refreshes its stores to optimise the format, layout and merchandise mix.
In line with COURTS' mission to 'make aspirational home products easily affordable', the retailer abides by the COURTS Price Promise and is committed to offering competitive prices across its product range. In addition, it offers in-house flexible financing solutions to complement its range of easy payment options.
For more information, please visit www.courts.com.sg.
For media enquiries, please contact:
COURTS Asia Limited
Tel: 6309 7666 / 9845 0063