Sam Ngumeni takes over as CEO of Woolworths Holdings at the start of June, following Roy Bagattinis decision to step down after six years at the helm of the retailer.
Bagattinis two major achievements during his tenure were the turnaround of its South African fashion business which operates as the Fashion, Beauty and Home segment and the extrication of the group from its disastrous and value-destructive acquisition of the Australian department store David Jones.
While the latter was completed early in Bagattinis tenure late 2022, with the sales of its properties to reduce debt achieved in his first year, the formers recovery was a more complex task and has only just taken hold.
