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E-commerce

Kogan taps Guzman y Gomez CFO for board position

Online retailer Kogan.com has appointed Michael Hirschowitz as an independent non-executive director and member of the board’s remuneration and nominations committee and audit and risk committee.

Hirschowitz currently serves as the chief financial officer at QSR Guzman y Gomez, and previously worked as the chief financial officer and executive director of footwear retailer Accent Group. He left that business last February after 22 years.

Hirschowitz brings extensive experience to Kogan.com, according to chairman Greg Ridder. He was instrumental in the development and execution of whole-of-business strategies, having led executive merger, acquisition and integration activities, as well as finance, technology, and supply chain projects.

“At Kogan.com, we value demonstrated experience in building enduring successful businesses and Michael certainly has that pedigree,” Ridder said.

“We warmly welcome Michael to the Board and look forward to his contribution.”

The e-commerce marketplace reported strong holiday trading results, while its global brands segment saw a 45.6 per cent decrease year on year, from $90.9 million to $46.6 million, due to the recent change in how GST is collected.

The Government recently revealed the GST change has generated $81 million in the first three months after it was implemented on July 1, 2018, in excess of the $70 million that was expected to be generated in its first year.

At the OECD Value Added Tax/Goods and Services Tax Global Forum in Melbourne last week, ATO deputy commissioner Tim Dyce said while there was much discussion around the tax’s viability prior to its implementation, the results speak for themselves.

“Thanks to the right consultation and design, led by Treasury along with the ATO, and with important input from business, the measures have clearly been effective, which shows we can provide a level playing field for online and physical businesses and between domestic and foreign businesses,” Dyce said.

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