Two Woolworths directors retire

Two Woolworths Ltd non-executive directors will retire on August 31, chairman Ralph Waters announced in a statement to the Australian Securities Exchange.

Sir Roderick Deane and John Astbury will leave as part of the board's succession process, allowing for a transition period after the appointment of three directors in January 2012.

Mr Waters thanked the directors for long-term contributions on financial management, growth initiatives, governance and people strategy.

Mr Astbury will remain a director of the home improvement joint venture company Hydrox Holdings Pty Ltd.