Woolworths’ new CEO experienced in turning companies around
News of Roy Bagattini’s appointment sent Woolworths’ share price soaring for its biggest one-day gain in more than six years
14 January 2020 - 08:35
UPDATED 14 January 2020 - 18:17
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. ..
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