JOHANNESBERG, Mar 13 – South Africa’s Woolworths Holdings has announced that its chief executive officer, Roy Bagattini, will retire at the end of September after more than six years leading the group.
The company said Sam Ngumeni, currently chief executive of its food division, will take over the role as part of a planned leadership transition. Bagattini will step down as CEO and executive director on May 31 and will work closely with Ngumeni during a transition period until his retirement.
Woolworths said the leadership change comes after what it described as significant progress in repositioning the business over the past several years. The board noted that the timing allows the company to build on stronger operational foundations while preparing for its next phase of growth.
During Bagattini’s tenure, the group undertook several strategic changes aimed at strengthening its core operations including the sale of its struggling David Jones department store chain in Australia, a move that helped the retailer reduce debt and refocus on its primary South African market.
The company also increased investment in its domestic businesses while expanding its pet retail footprint through the acquisition of Absolute Pets. In addition, Woolworths launched its first share buyback programme as part of broader efforts to improve shareholder returns.
Bagattini also oversaw efforts to reposition the group’s fashion businesses in both South Africa and Australia. According to the company, these changes included brand updates and improvements in stock availability designed to strengthen competitiveness and support long term growth.
Ngumeni, who has spent nearly three decades with Woolworths, previously served as the group’s chief operating officer before leading the food division.
Chairman Clive Thomson said Ngumeni brings extensive experience across multiple parts of the business and has demonstrated the ability to set clear priorities and deliver on strategy.
