Woolworths SA boss beats back surgery as he seals David Jones deal
As Ian Moir, the head of South African retailer Woolworth Holdings, prepared to close the biggest deal of his life — the $2.1 billion acquisition of David Jones — he was hospitalised for back surgery.
"I had put it off and put it off but I couldn’t put it off any longer," Moir, 55, said of the operation in an interview this week in the South African retailer’s flagship store in Cape Town. "It wasn’t great timing but it didn’t have any effect. The anesthesia wears off after a couple of days. I wasn’t making deals while I was under the influence of drugs."
Moir’s resilience paid off when the takeover of Australia’s oldest department store — identified as a target about 18 months ago — was completed on August 1. The tie-up will create a southern-hemisphere retail giant with combined revenue of 58 billion rand ($5.83 billion) from more than 1150 stores throughout Africa and Australia that can compete with … Sydney Morning Herald – Read more…