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Woolworths announce a change in leadership

The board of supermarket giant Woolworths has just announced the intended retirement of its CEO and Managing Director Michael Luscombe on the 30th September 2011. Stepping into his position will be Grant O’Brien, Chief Operating Officer for Australian Food and Petrol.

Coming into effect today, O’Brien.49, will now be the Deputy Chief Executive Officer and CEO designate. Joining the board of directors, O’Brien will work closely with Luscombe in the lead up to his formal commencement date, 1st October 2011.

O’Brien has had 24 years of service and has gained broad experience, working across a diverse area of the business. His career has so far been market by the successful delivery of numerous highly innovative, customer focused growth strategies: from the creation of Australia’s first supermarket loyalty scheme, to the development of the company’s liquor strategy and the new Home Improvement venture.

In response to the appointment, O’Brien has said:

“I am immensely honoured to receive this opportunity and would like to thank the Woolworths board for having confidence in my ability to continue Michael’s legacy.”

In reference to Mr. Luscombe, Chairman James Strong said:

“During his tenure as CEO, Mr. Luscombe has achieved a tripling in group EBIT, driven annual sales through $50 billion and overseen a 68% increase in shareholder returns”.
 

 

Image courtesy of www.ttw.com.au

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