Woolworths has appointed a top executive from US fashion group Levi Strauss to replace group CEO Ian Moir, whose reign has been overshadowed by the retailer’s disastrous foray into Australia.
Analysts said Moir’s departure on Tuesday after more than nine years at the helm was unsurprising given the performance of the retailer’s David Jones department store chain in Australia, which has seen its value written down to less than half what Woolworths paid for it.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.
When they bring turnaround guys, just know retrenchments are looming 🤞🏾
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Woolworths’ new CEO experienced in turning companies aroundAnalysts said Moir’s departure on Tuesday after more than nine years at the helm was unsurprising given the performance of the retailer’s David Jones department store chain in Australia, which has seen its value written down to less than half what ...
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