Reece: Strategic Continuity Confirmed on Leadership Transition

Our AUD 13.50 fair value estimate for no-moat Reece stands on the latest leadership transition update, with shares screening as significantly overvalued. As previously announced, CEO Peter Wilson will take on the additional role of chair following Tim Poole's retirement in November 2024. Reece has announced that Sasha Nikolic, currently CEO of Reece’s US business, will step up into the role of group president and managing director. Nikolic will assume responsibility for strategy implementation and performance, with input from Peter Wilson.