Woolworths on the hunt for new non-executive directors

 In Australia, NewZealand, Woolworths
Woolworths has kicked off a global search for new non-executive directors but has denied that it has appointed headhunters to look for a new chief executive to replace Grant O’Brien.
Woolworths chairman Ralph Waters said on Monday Woolworths had started a global search for a new non-executive director to fill a vacancy left by former Reserve Bank of Australia governor Ian Macfarlane, who stepped down from the Woolworths board in March after eight years.
Mr Waters told The Australian Financial Review that if Woolworths identified more than one suitable candidate it might appoint two new non-executive directors, further strengthening the board.
However, he denied rumours that the board has started searching for a new CEO to replace Mr O’Brien, who is under pressure amid mounting losses at home improvement chain Masters, declining earnings at BIG W, and slowing sales growth in Woolworths’ food and liquor business.  Sydney Morning Herald – Read more…

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