‘Cheap, cheap’ CEOs need not apply for Woolworths’ top job

Woolworths’ new chief is unlikely to steal the title of Australia’s highest paid executive from former Coles boss Ian McLeod, who collected almost $55 million over five years for turning around the once-struggling supermarket chain.

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However, analysts and investors are in little doubt that Woolworths’ chairman Gordon Cairns will have to dig deep to hire a top-notch North American or European food industry executive to restore the fortunes of Australia’s largest retailer. Sydney Morning Herald – Read more…