Bruce Mathieson Snr has given his verdict following the announcement Steve Donohue will step down as Endeavour Group CEO.

Mathieson Snr has been vocal in his displeasure with the performance of Endeavour Group. He was among major shareholders frustrated by Endeavour Group’s operating performance and its share price, with a public war breaking out between the Mathieson Group and Endeavour. Group

Mathieson Sr told The Australian he welcomed Donohue’s departure and said he should have “departed a long time ago”.

“He said the performance of the company had not been good under his leadership, which was reflected in the share price,” The Australian reported.

“He should not have been in the job – running pubs is different from running a Dan Murphy’s,” Mathieson Snr said. “My family built that company and there is not one person left. They are all Woolworths people.”

Earlier this month, Endeavour Group reported the lapse of Donohue’s Performance Rights under the F22 LTI to the ASX “due to performance conditions not being met”.

Donohue’s decision to leave the Endeavour Group was announced on Friday. The company said that after 30 years with the business including more than six years as CEO and following the successful demerger of Endeavour from Woolworths Group in 2021, he and the Board had determined now was the right time for a new leader to take the Group into its next phase of growth.

The Board is engaging external advisors as part of a comprehensive process to identify a new Chief Executive Officer. Donohue will remain in his position as CEO while the process is undertaken to assist with an orderly transition.

Chairman Ari Mervis said: “Steve is a rare CEO who rose from the shop floor to the top job, and he will leave behind a significant legacy with Endeavour Group.

“His passion and drive is known throughout the company as well as the broader industry.

“Steve has a track record of success through a range of roles, and I wish to pay special tribute to his leadership of the organisation and his passionate commitment to making Endeavour a success.”

Having led the amalgamation of joint venture ALH Hotels Group and Endeavour Drinks to form Endeavour Group in 2018, and subsequently stewarding the demerger from Woolworths and the listing on the ASX in 2021, Donohue has led the company through its initial three financial years as a stand alone entity.

Donohue said “Six years after we created Endeavour Group and with the strategy and culture well established as an independent company, now is the right time for me to pass the baton on to the next leader.

“It has been an immense privilege to lead this company and to have been a part of this business for three decades.”

“I take great pride in the achievements of the company during my time as CEO and thank everyone at Woolworths and Endeavour who has supported me over many years. Together, we have created the leading company for social occasions, with unrivalled brands and hospitality venues.”

Donohue began as a summer casual in the second Dan Murphy’s store in Alphington Victoria in 1994, before quickly rising through the ranks to take on a range of leadership roles across Endeavour Drinks and Woolworths Group.

He was appointed to lead the foreshadowed Endeavour Group in 2018, after which the Group formally demerged from Woolworths in June 2021 and joined the ASX in its own right.

Mervis said “While Steve is remaining with the business as the CEO search progresses, on behalf of the Board I would like to extend my sincere thanks to him for his long service and commitment to Endeavour over many years.”