The executive who led the loss-making Masters business will advise its biggest rival Bunnings on its foray into the UK.

Bunnings has announced Matt Tyson, former managing director of Masters, as one of three members of an advisory board to its recently acquired Homebase home improvement chain in the UK.

Tyson led Woolworths’ failed big box DIY chain Masters for nearly two years before quitting in February.

Bunnings boss John Gillam admitted Tyson was “an interesting choice” but said he had valuable experience in the UK.

“Matt knows us very well because he’s been here competing against us,” Gillam told analysts during parent company Wesfarmers’ strategy briefing on Wednesday.

“He understands what Bunnings is and maybe understands things we don’t understand – strengths and weakness that we are not aware of.

“He is also a very well-credentialed UK retailer.”

Before Masters, Tyson worked for Europe’s largest home improvement retailer, Kingfisher’s B&Q chain, including as chief executive of its Asian business from 2008 to 2010.

Tyson is also consulting to Woolworths on its exit of the home improvement sector.

He joins Archie Norman, Wesfarmers deputy chairman and the former boss of UK retailer Asda, and Michael Mire, former partner of global management consulting firm McKinsey & Company, on the advisory board.

Wesfarmers bought Homebase for nearly $700 million in February and plans to gradually convert the chain into Bunnings outlets.

Gillam said the Homebase turnaround has begun, with a trial of Bunnings pilot stores to begin later in 2016.

AAP

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