Woolworths merges retail businesses, reshuffles executive suite

Retail giant Woolworths Group Ltd (ASX:WOW) has made readjustments to its organisational structure – including the merging of three subsidiary brands into its retail wing – as well as appointing new executives to various parts of its food business.

Metro, red meat supplier Greenstock, and own-brand business Woolworths Food Company Retail will now become part of Woolworths Retail more broadly.

The latter division will be led by Annette Karantoni, who has previously led Woolworths’ supply chain business Primary Connect, and has 20 years of experience across the company.

Another shift will see Sally Copland return to New Zealand to become managing director of the company’s regional division in that country.

The changes at Woolies have been made in the wake of rising costs and an ACCC investigation into pricing claims also involving Coles (ASX:COL) – with the board saying changes to its Food leadership and structure have been made ‘to allow a greater focus on the areas that have the most impact for customers.’

Woolworths Group CEO Amanda Bardwell said the shifts had been made in consideration of the latter’s needs. “Our Woolworths Retail business is the cornerstone of our group and critical to our success,” she said.

“Getting it right for our customers starts with our team and we are taking the opportunity to
simplify the way we work to create the biggest impact for our customers.

“With Metro, Greenstock and Woolworths Food Company Retail moving into Woolworths Retail under Annette’s leadership, we will be able to enhance the role our retail food stores and own brand play in meeting the needs of our customers.”

Woolworths shares last traded at $30.17 – a rise of 0.43% since the market opened.

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