Former Clicks boss David Kneale joins Woolworths
By Nick Hedley - Mar 11th, 10:06
Former Clicks CEO David Kneale, who helped the retail group break into the JSE’s top 40 index in 2018, has joined the Woolworths board.
Kneale, who stepped down as CEO of Clicks at the end of 2018 after 13 years at the helm, has been appointed an independent nonexecutive director of Woolworths, effective on Monday, the struggling food and clothing retailer said.
Kneale has more than 40 years of local and international retail experience in senior leadership and executive roles, Woolworths said.
Thembisa Skweyiya has also joined the Woolworths board in the same capacity.
“Thembisa brings a wealth of skills to the board,” Woolworths said.
She has “extensive corporate finance expertise”, having served at Citigroup and Nedbank Capital, and being a member of the board of Rothschild (SA).
Skweyiya is currently a nonexecutive director on the boards of Imperial Logistics, Liberty Holdings, Sumitomo Rubber SA and Jonsson Workwear. She previously served on the boards of Absa, Telkom and Famous Brands.
“The board will continue to supplement its composition by the appointment of additional independent nonexecutive directors and will be making further announcements in this regard in due course,” Woolworths said.
In February, Woolworths saw its share price decline to the lowest level since 2012 after saying two nonexecutive board members with extensive business experience in Australia had resigned with immediate effect.
The resignation of Patrick Allaway and Gail Kelly followed that of David Jones CEO David Thomas, who left with immediate effect in early February.
Thomas was the third CEO to leave David Jones in five years.
Woolworths bought David Jones in a much-praised takeover worth R21bn in April 2014, although that business has since soured.
Battling to turn around the business, the retailer wrote down the value of the Australian retailer by R7bn in 2018, leading Woolworths to report its first annual loss since 2002.Business Live
How retailers can add value for consumers in turbulent economic times
25/03/2019 - 15:51
For the most part, it has been a dismal year for South African retailers; elevated household debt, higher fuel prices and an increase in value-added tax squeezed consumer spending. However, Ackermans, South Africa’s longest standing value retailer, performed well over 2018 reporting growth of just over 10% which is three times more than the industry benchmark.
Confusion around best-before dates causing unnecessary waste
25/03/2019 - 11:14
Confusion around best-before dates is widespread, causing unnecessary food waste. And in a country that's already food insecure, binning good food is not only unconscionable, it's plain wrong.
Watches of Switzerland sets its sights on more US acquisitions
25/03/2019 - 09:38
Watches of Switzerland expects to make further acquisitions in the US, which it first entered in 2017 with the purchase of jeweller Mayors, its CEO said.
Load shedding threatens jobs, economic recovery, says consumer body
22/03/2019 - 13:31
Load shedding, which has been escalated to Stage 4, is posing a significant risk to economic recovery, the Consumer Goods Council of South Africa said in a statement, as rotational blackouts continued to grip the country.
Pick n Pay introduces blood oranges to its fresh produce offering
22/03/2019 - 10:19
Fruit lovers no longer have to travel to Europe to taste the goodness of blood oranges. Pick n Pay has added rare blood oranges to its fresh produce offering making it the first retailer to offer this unique fruit to customers.