Ian Moir, the head of Woolworths Holdings‘ apparel retailing arm Country Road, is set to take the job as CEO of the South African food and clothing retailer.

Woolworths announced yesterday (26 August) that current CEO Simon Susman would step down next November as he reaches retirement age.

Susman will take on the newly-created role of Woolworths deputy chairman. Moir will become CEO-elect in January.

“These appointments will provide the group with continuity into the future,” the company said.

Meanwhile, Andrew Jennings, retail MD at Woolworths, is set to leave the company in December after three years.

Jennings “advised us of his desire to return to the global retail stage to pursue new opportunities”, the company said.

Yesterday, Woolworths booked a rise in underlying annual earnings on increasing sales.