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Longtime Woolworths senior director Sam Ngumeni, who has been with the group for three decades, has been appointed group CEO of Woolworths Holdings Limited, effective 1 June 2026, the retail giant announced on Thursday.<\/p>\n
This comes as the group also confirmed the retirement of current CEO Roy Bagattini in September, after six years at the helm.<\/p>\n
Read:
Woolworths delivers positive sales but profit margins under pressure
Woolworths warns on Australia, invests in SA food unit<\/p>\n
\u201cThe group has a wealth of deep talent, and the board is delighted to confirm the appointment of an internal successor, being Sam Ngumeni, as the new WHL Group CEO with effect from 1 June 2026. Sam\u2019s appointment is made in accordance with the WHL appointment of directors policy,\u201d Woolies said in Sens statement.<\/p>\n
\u201cRoy Bagattini will be retiring from the company at the end of September 2026, following more than six years of dedicated service to the WHL Group. His retirement follows a period of careful consideration by himself and the board, and forms part of a comprehensive succession plan that has been in process for some time,\u201d it said.<\/p>\n
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\u201cFollowing significant progress in the strategic repositioning of WHL, and given Roy\u2019s pending retirement, it is now the optimal time to transition leadership as the group continues to build on its strengthened foundations and prospects for growth.<\/p>\n
\u201cUnder Roy\u2019s stewardship, the group has materially strengthened its capital allocation framework and disciplines and fundamentally enhanced its long-term growth and value creation prospects,\u201d it added.<\/p>\n
Ngumeni\u2019s track record<\/p>\n
\u201cSam has an exemplary track record, having been with the group for almost thirty years, and serving as an executive director of WHL since 2014,\u201d\u00a0the company said.<\/p>\n
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\u201cHe is currently the CEO of the Food division, having previously held various senior executive positions across the group, including that of group COO, Group Director of HR & Transformation, and CEO of Woolworths Financial Services.<\/p>\n
\u201cSam is also a member of WHL\u2019s Risk, Information and Technology Committee, the Sustainability Committee, and the Social and Ethics Committee. He also serves on the boards of the group\u2019s major subsidiaries, being Woolworths (Pty) Ltd and Country Road Group (Pty) Ltd,\u201d it added.<\/p>\n
Woolworths\u2019s share price<\/p>\n
* More to follow<\/p>\n
#Sam #Ngumeni #Woolworths #Group #CEO #Roy #Bagattini<\/p>\n","protected":false},"excerpt":{"rendered":"
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