Roger Corbett stands down as chief executive of Australian retailer Woolworths in just over a month. As the company reports yet another highly impressive set of results, David Robertson looks at Corbett’s extraordinarily successful period...
Australia’s largest retailer Woolworths has reported record full year profits, on the back of a 20.4% increase in full year sales to A$37.7 billion.
The board of Woolworths announced today (24 May) that Michael Luscombe has been appointed to succeed Roger Corbett as chief executive officer. Luscombe will assume the position from 1 October. From 1 June he will serve as chief operating officer.
With 76% of Australia’s food retail market, just two companies, Woolworths and Coles, dominate the region. In a two-part review, David Robertson looks at both supermarket chains. The first article will look at Woolworths, the second at Coles, while each part will also examine the issues affecting both companies.
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