Overview
- Roy Bagattini will step down as group CEO and executive director on 31 May 2026 and will support the handover to Ngumeni.
- Some reports say Bagattini will formally retire at the end of September 2026, creating a timing discrepancy with the company’s transition date.
- Ngumeni, a nearly 30-year Woolworths veteran, has led the Food division to above‑market performance and previously served as COO and as head of Woolworths Financial Services.
- Chairman Clive Thomson expressed full board confidence in Ngumeni, citing his deep institutional knowledge and record of executing clear strategic priorities.
- Under Bagattini, Woolworths sold David Jones, deleveraged the balance sheet, increased investment in South Africa, bought Absolute Pets, launched Woolworths Ventures, and executed the group’s first share buyback.