UPDATE 2-S. Africa's Woolworths names U.S. fashion executive Roy Bagattini new CEO, shares jump [Reuters]
WOOLWORTHS HLDGS S/ADR (WLWHY)
NASDAQ:AMEX Investor Relations:
woolworthsholdings.co.za/governance/investor_relations.asp
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Source: Reuters
UPDATE 2-S. Africa's Woolworths names U.S. fashion executive Roy Bagattini new CEO, shares jump (Adds analyst, updates shares, David Jones context) JOHANNESBURG, Jan 14 (Reuters) - South Africa’s Woolworths Holdings has appointed Levi Strauss executive Roy Bagattini as CEO, cheering investors keen for a fresh pair of hands to tackle the department chain’s struggling Australian business. He replaces Ian Moir, who will step down in February after nine years at the helm during which he oversaw the group’s digital transformation and paid a big premium to bulk up in Australia via retailer David Jones. Moir’s departure was widely anticipated by industry analysts as his $2 billion acquisition in 2014 of David Jones has weighed on the group which has had to write down its value twice and pump in millions of dollars to refurbish its Elizabeth Street store, disrupting sales. Bagattini, 56, previously served as Levi Strauss’ APAC, Middle-East and Africa president and also worked for Denmark-base
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