1999/04/23
WOOLWORTHS HOLDINGS (WOOLWORTHS) TODAY ANNOUNCED CERTAIN CHANGES TO THE [JSE Securities Exchange - SENS]
 
23/04/1999 - 20:01:46

PRESS RELEASE
WOOLWORTHS HOLDINGS (WOOLWORTHS) TODAY ANNOUNCED CERTAIN CHANGES TO THE
MANAGEMENT STRUCTURE OF THE GROUP.  THE OBJECTIVE OF THESE CHANGES IS TO CREATE
GREATER FOCUS ON THE CORE BUSINESS AS WELL AS TO CREATE CAPACITY TO EXPLOIT NEW
OPPORTUNITIES.
BRIAN FROST, PREVIOUSLY JOINT MANAGING DIRECTOR, WILL RELINQUISH HIS ROLE IN
THE DAY TO DAY MANAGEMENT OF THE COMPANY AND WILL TAKE RESPONSIBILITY FOR A
NEWLY FORMED DIVISION OF WOOLWORTHS, CALLED "NEW ENTERPRISE".  NEW ENTERPRISE
HAS BEEN ESTABLISHED TO INVESTIGATE AND EXPLOIT A NUMBER OF EXCITING AND
INNOVATIVE OPPORTUNITIES WHICH HAVE BEEN IDENTIFIED AND WHICH WILL REQUIRE
FOCUSED ATTENTION.  FURTHER DETAILS OF THESE WILL BE ANNOUNCED IN DUE COURSE.
FARRELL RATNER AS MANAGING DIRECTOR: PROCUREMENT WILL CONTINUE TO FOCUS ON
MAXIMISING THE GROWTH OF THE TEXTILE AND FOOD DIVISIONS AND WILL REPORT
DIRECTLY TO EXECUTIVE CHAIRMAN, SYD MULLER, AS WILL ALL THOSE DIRECTORS THAT
PREVIOUSLY REPORTED TO MR FROST.
CAROL GROLMAN WILL RETIRE AS A DIRECTOR OF WOOLWORTHS (PTY) LIMITED, THE SOUTH
AFRICAN TRADING ARM OF THE GROUP, BUT WILL REMAIN A DIRECTOR OF WOOLWORTHS
HOLDINGS IN A NON-EXECUTIVE CAPACITY.  SHE WILL ALSO CONSULT TO THE GROUP.
DON KOURIE, PREVIOUSLY MANAGING DIRECTOR OF READERS DIGEST AND ESTEE LAUDER IN
SOUTH AFRICA, HAS BEEN APPOINTED MARKETING DIRECTOR OF WOOLWORTHS (PTY)
LIMITED.  MR KOURIE BRINGS EXTENSIVE DIRECT MARKETING AND BRAND MANAGEMENT
EXPERTISE TO WOOLWORTHS.
IAN STURROCK WILL RELINQUISH THE FINANCE PORTFOLIO TO FOCUS ON SYSTEMS
DEVELOPMENT AS WELL AS THE GROWTH OF THE FINANCIAL SERVICES BUSINESS.  DAVID
MOIR, PREVIOUSLY A SENIOR PARTNER WITH ERNST AND YOUNG, HAS BEEN APPOINTED TO
THE BOARD OF WOOLWORTHS (PTY) (LIMITED) AS FINANCE DIRECTOR.
BOTH MR KOURIE AND MR MOIR WILL TAKE UP THEIR PORTFOLIOS AFTER A PERIOD OF
FAMILIARISATION WITH THE COMPANY.
ENDS -
ENQUIRIES:
SYD MULLER - CELL 083 251 6194
BRIAN FROST - CELL 083 252 5888
FARRELL RATNER - CELL 083 252 2486
PRODUCED BY: SHARIFA WALBURG 23-04-1999 08:49 SENS

PUBLISHER : JSE SENS Feed
Source: JSE Securities Exchange - SENS
 
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