Woolies Shareholders Have a Problem

When the CEO ‘retires’ just a month before end of year results, shareholders should be worried. The news obviously isn’t going to be good, and the board obviously isn’t happy. So it is with Woolworths’ CEO Grant O’Brien, who fell on his sword yesterday.The business has its problems. The CEO’s departure came with the second profit downgrade this year. Home improvement chain Masters is taking longer and costing more than expected. Coles is resurgent and stealing market share at an alarming rate. And new entrant Aldi – apparently soon to be joined by fellow low cost operator Lidl – is...

When the CEO ‘retires’ just a month before end of year results, shareholders should be worried. The news obviously isn’t going to be good, and the board obviously isn’t happy. So it is with Woolworths’ CEO Grant O’Brien, who fell on his sword yesterday.

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