JB Hi-Fi was established in 1974 by a simple philosopher Mr. John Barbuto (JB) who was trading from single store in Victoria a place called East Keilor. He was delivering variety of Hi-Fi equipments as well as recorded music at lowest prices in Australia. In 1983, the business was sold and later in 1999, nine stores were opened. With the aim of taking the business to be a successful model all over the nation, private equity bankers and senior management purchased the business in July 2000. JB Hi-Fi was floated in October 2003 on the Australian stock Exchange. JB Hi-Fi is the largest retailer as well as fastest growing home entertainment Retailer Company in Australia. The Queensland Clive Anthony’s stores were bought by JB in July 2004. The Queensland Clive Anthony was selling the consumer goods like the cooking appliances, consumer electronics and air conditioning equipments before it was bought.
It has been revealed that the executive or the CEO of a Melbourne based JB who led to the company’s success in year 2009 Richard Uechtritz will retire from the position in August after being in that position for 10 years. He will be succeeded by Terry Smart who joined the company in year 2000 together with Uechtritz. Uechtritz led the company towards making a half year net profit of $76 million in Australian currency... [continues]
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