Following a recent $541 million writedown, the regional CEO has stepped down, not to be replaced.
John Dixon, Australian division head of Woolworths, has resigned, effective 21 May 2018. This after Woolworths, South Africa’s largest clothing and food retailer, earlier this year wrote off some R6 billion from its David Jones business. Woolworths bought the David Jones department store chain for some $2 billion in 2014.
Woolworths said in a statement:
“Following a strategic cost review, the group has taken the decision to simplify its Australian regional leadership structure... The role of regional CEO has been discontinued and consequently John Dixon will leave the group.”
The Cape Town-based retailer also said that the heads of David Jones (David Thomas) and Country Road, (Scott Fyfe) now will both report directly to Ian Moir, the company’s CEO.
