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
Aaron Jarosz promoted to lead Home Depot Canada's pro services
Thu, April 25th, 2024
New owners for Canadian Tire store in Innisfil, Ont.
Thu, April 25th, 2024
United Hardware merges with Do it Best
Thu, April 25th, 2024
Throwback Thursday: Ten years ago, Home Depot Canada started using stores as online showrooms
Thu, April 25th, 2024
CEO shares plans for Home Hardware’s 60th anniversary
Wed, April 24th, 2024
West Fraser posts Q1 financials
Wed, April 24th, 2024
IKEA introduces online financial options
Wed, April 24th, 2024
Retail sales stable in February
Wed, April 24th, 2024
Home Hardware manager wins NHPA award
Tue, April 23rd, 2024
Meet IKEA Canada’s Tanja Fratangeli in our new podcast
Tue, April 23rd, 2024