2010/09/13
WHL - Woolworths Holdings Limited - Country Road - departure of Chief Executive [JSE Securities Exchange - SENS]
 
WOWOW                                                                           
WHL - Woolworths Holdings Limited - Country Road - departure of Chief Executive 
Officer                                                                         
Woolworths Holdings Limited                                                     
(Incorporated in the Republic of South Africa)                                  
Registration number 1929/001986/06                                              
Share code:  WHL                                                                
ISIN:  ZAE000063863                                                             
("Woolworths Holdings")                                                         
COUNTRY ROAD - DEPARTURE OF CHIEF EXECUTIVE OFFICER                             
Country Road Limited (CTY) ("Country Road" or "the company"), a subsidiary of   
Woolworths Holdings, listed on the Australian Stock Exchange, today announced   
the departure of Chief executive officer John Cheston due to irreconcilable     
differences with the Board over the future direction of the company.            
Country Road's Chairman, Simon Susman, said, "The differences regarding the     
future path of the business were fundamental in nature and were not capable of  
resolution. The situation is regrettable but the Board is unanimously of the    
view that this is the best course of action to maintain the momentum and future 
growth of the business.                                                         
Our operating strategies remain unchanged. We will continue to focus on our     
store rollout strategy for our two brands, whilst continuing to review and      
implement cost saving initiatives."                                             
Cape Town                                                                       
13 September 2010                                                               
Sponsor                                                                         
RAND MERCHANT BANK (A division of FirstRand Bank Limited)                       
Date: 13/09/2010 11:00:01 Produced by the JSE SENS Department.                  
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Source: JSE Securities Exchange - SENS
 
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