Top CEO behind $700m Michael Hill jewellery empire dies suddenly aged 57: Retail giant once ran Myer
The executive who helped build the $700million Michael Hill jewellery empire has died suddenly overnight aged just 57.
Brisbane-based Daniel Bracken died due to an ‘adverse reaction to medical treatment for an underlying medical condition,’ the business said on Wednesday.
He has been remembered as a ‘passionate retailer’ and a ‘strategic thinker’ who had been in the top job at the ASX-listed Michael Hill International since 2018.
‘The board, executive and all of the Michael Hill team express their deepest and sincerest condolences to his family and friends,’ the company 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.’
Further details about interim leadership arrangements would be provided by the board in due course, the company said on Wednesday afternoon.
Bernie Brookes, the former Myer CEO and Mr Bracken’s former boss, said he was a ‘true merchandiser’ who had a superb career in retail.
Miranda Kerr (pictured) is a brand ambassador for Michael Hill jewellers, whose CEO has just died
Daniel Bracken (pictured with Jennifer Hawkins) died due to an ‘adverse reaction to medical treatment for an underlying medical condition,’ the business said on Wednesday
Daniel Bracken, the Michael Hill CEO has died suddenly, is pictured with Elle Macpherson
‘He had a real skill in merchandising and branding,’ Mr Brookes told The Australian. ‘He was taken far too soon.’
Paul Zahra, a former ceo of both David Jones and the Australian Retailers Association, said Mr Bracken as a ‘complete gentleman’ who used his international experience to benefit the brands he worked with.
‘The retail community is in shock,’ Mr Zahra said. ‘My sincere condolences goes to his family and friends at this difficult time.
‘From luxury fashion to leading a global jewellery retailer, Daniel’s leadership shaped iconic brands, driving innovation, growth and a lasting industry influence.’
Markets with Madison host Madison Malone tweeted that Mr Bracken ‘was such an energised CEO who was genuinely excited about the iconic jewellers future.
‘Last time we spoke I told him I’d been shopping for an engagement ring. He loved that the company played a part in celebrating life’s biggest moments.’
Mr Bracken, who was born in London, previously served as the chief merchandise and customer officer at department store Myer.
He spent more than 15 years at fashion house Burberry London in the UK, where he was a key player in its success as an iconic global brand.
The late Michael Hill CEO Daniel Bracken is pictured (right) with actress and model Jodi Gordon
Michael Hill CEO Daniel Bracken, who has died suddenly aged 57, is pictured with Jennifer Hawkins
Daniel Bracken helped build the $700million Michael Hill jewellery empire. A Michael Hill shop is pictured in Toronto, Canada
Among his roles at Burberry were vice president of strategy and head of merchandising and production.
His death came just days after he presented the company’s interim earnings result, praising the team ‘for their retail execution, determination and resilience in an incredibly tough trading environment’.
The company posted a 9 per cent increase in statutory net profit after tax to $16.9million in the first half of the financial year, despite a 0.7 per cent fall in revenue to $360.2million.
Michael Hill International shares have dropped 4 per cent on Wednesday.
More to follow.
