Australia: CEO of supermarket chain Woolworths resigns
June 17 , 2015
Australian supermarket chain Woolworths’s chief executive Grant O'Brien has announced his resignation after nearly four years at the helm, amid plans to slash around 1,200 jobs.
Woolworths hopes to turn around its business by cutting costs and boosting sales, following an unimpressive first-half performance that saw a drop in profits.
Acknowledging that the company’s recent performance had been “below expectations”, O'Brien said that it was “in the best interests” of Woolworths for a new leader to implement the plans.