SYDNEY, Australia — Grant O’Brien, CEO of Woolworths, is leaving the company after 28 years, as the Australian retailer continues to struggle with sales numbers. His departure opens the door for his successor to pull the plug on Masters Home Improvement, the company’s money-losing joint venture with Lowe’s. O’Brien, who reiterated support for the venture last month, was the driving force behind Masters. O’Brien and chairman Ralph Waters have defended the business, insisting that it will eventually pay off for shareholders, but Waters acknowledged that the new CEO will be at liberty to review all points of Woolworths’ business plan, including Masters.
Lowe’s/Woolie’s venture scrutinized as CEO quits
Most Recent
Most Read
Taiga Building Products posts Q1 results
Mon, May 06th, 2024
Ace Hardware in U.S. debuts line of barbecue sauces
Mon, May 06th, 2024
Consumer boycott of Loblaw Companies begins
Fri, May 03rd, 2024
Pont-Masson ad evokes a classic movie
Fri, May 03rd, 2024
Featured Classified: Taiga
Fri, May 03rd, 2024
Canfor announces earnings, acquisition
Thu, May 02nd, 2024
Two more retailers to showcase Quebec-made products
Thu, May 02nd, 2024
Throwback Thursday: “Canadians are ready to start spending again,” we reported ten years ago
Thu, May 02nd, 2024
RONA stores raise money in May to support communities
Thu, May 02nd, 2024
AD Canada garners recognition as great place to work
Thu, May 02nd, 2024