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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Woolworths | LSE:WLW | London | Ordinary Share | GB0030738610 | ORD 12.5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.22 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number : 1206B Woolworths Group PLC 12 August 2008 Woolworths Group plc Appointment of Chief Executive 12th August 2008 Woolworths Group plc, the retail and entertainment wholesale and publishing group, is pleased to announce the appointment of Steve Johnson as Chief Executive with effect from 1st September 2008. Steve Johnson was most recently Chief Executive of Focus DIY, a post held for four years until July 2007. Before that he had worked for GUS; for supermarket chain Asda in a variety of roles; and in consulting at The Kalchas Group and Bain & Company. Steve is currently a non-executive director of the Unipart Group of Companies Ltd. At Focus, he successfully instigated a renewal strategy designed to grow sales, enhance margins and reduce costs. This was achieved through a re-alignment of the price proposition, a review of the trading formats, an overhaul of the supply chain, the amalgamation of three head office locations and a reduction in central overheads. Richard North, Chairman of Woolworths, said: "We are delighted that Steve will be joining Woolworths. With his strong background in both retail and consultancy, together with his particular experience in achieving a turnaround at Focus, he brings the strategic and operational skills that the Group needs to help it move to the next stage of its development. "The Board of Woolworths is confident that Steve will add tremendous value leading our strong operational management teams in both the retail and distribution businesses. We are sure that he has a great deal to contribute to the recovery and growth of the Woolworths Group." Steve Johnson said: "I am very excited to be joining the Group. Woolworths is a well-loved high street brand operating in attractive markets, while the EUK and 2 entertain businesses have grown to hold market-leading position in their respective markets. "Along with the rest of the Woolworths team, I will be focused on value creation for all stakeholders as we seek to move the Group forward." No additional information should be disclosed under paragraph 9.6.13 of the Listing Rules of the UK Listing Authority. For further information please contact: Susanna Voyle, Tulchan Communications 020 7353 4200 Notes to Editors: Steve Johnson Biography Stephen Johnson, age 44; BA Engineering and MEng, Cambridge University. 1987-1990 Bain & Company, Consultant. 1990-1993 The Kalchas Group, Senior Manager. 1993-2000 Asda plc, various roles, including Corporate Development Director and Marketing Director. 2000-2002 GUS plc, Sales and Marketing Director for the Reality Group division. 2003-2007 Focus DIY, Chief Executive. Remuneration Basic package: - Base salary of £550,000 per annum - 24-month contract; reducing to 12-months at the end of the first year Bonus (subject to detailed terms and performance targets): - Entitled to a cash bonus of up to 50 per cent of salary in respect to performance in the period to the end of January 2009. - Entitled to a one-off bonus of up to 50 per cent of salary to be paid in November 2009 - From the second year of employment, to be included in the Woolworths Group Annual Incentive Plan One-off incentive plan: - Award of nil-cost share option over 24m shares in Woolworths Group (calculated to be equal to three times annual salary) - 50 per cent of the award to vest three years from the date of grant subject to performance measures - 50 per cent of the award to vest four years after the date of grant, subject to performance measures - Performance measures are: 40 per cent of the award vests if the share price reaches 12p; 100 per cent of the award vests if the share price reaches 20p. For share prices between 12p and 20p, vesting will be calculated on a straight-line basis This information is provided by RNS The company news service from the London Stock Exchange END BOAGUUCCRUPRUAP
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