After 25 years with Bunnings, most recently as managing director of BUKI, Peter J (PJ) Davis has announced his retirement from the business.

The news comes after Bunnings had publicly confirmed last month the he "will be taking three-months' leave starting mid-January", and despite the inital break being met with shock by the industry, the company assured all the time off was pre-planned.

Yesterday it was announced by Bunnings parent company, Wesfarmers, that Bunnings UK and Ireland (BUKI) is expected to report an underlying loss before interest and tax of £97 million ($165 million) for the first-half of the 2018 financial year, primarily due to the "underperformance" from the Bunnings conversions since Wesfarmers bought the DIY chain Homebase from Home Retail Group in February 2016.

The strong credentials of the new leadership team means Mr Davis’ retirement will result in a smooth transition and the business will be led by Damian McGloughlin, who has been appointed managing director of BUKI, reporting to Bunnings Group managing director Michael Schneider. Mr Mcgloughlin has more than 30 years' experience in the UK home improvement and DIY market. A number of other senior leadership appointments including David Haydon as chief operating officer have been made to strengthen the BUKI team and provide additional local experience and expertise.

“PJ has been instrumental in driving the growth and success of Bunnings for the past three decades and in the establishment of the Bunnings Warehouse format in Australia in the 1990s,” Mr Scott said.

Mr Schneider said he was grateful for the contributions Mr Davis has made to the Bunnings organisation and the culture of the business.