Woolworths ‘not arrogant’, says departing CEO

 In Australia, NewZealand, Woolworths
Outgoing Woolworths chief executive Grant O’Brien has defended the culture at Australia’s largest retailer, rejecting suggestions it had lost touch with customers after becoming arrogant and insular.
Four weeks after unveiling a long-term turnaround plan aimed at reinvigorating lacklustre sales and profits by sacking staff and investing more than $500 million of cost savings into reducing grocery prices, Mr O’Brien stunned investors on Wednesday by announcing his intention to retire as soon as a new CEO could be found.
Mr O’Brien, a former electrician who joined Woolworths 28 years ago as a part-time shelf stacker while studying accountancy, was remarkably calm about his resignation and said it would be business as usual until he handed the baton to an internal or external successor – possibly as late as January 2016.  Sydney Morning Herald – Read more…

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