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
Food and beverages giant PepsiCo makes offer to acquire Pioneer Foods
19/07/2019 - 10:18
In a vote of confidence about SA’s long-term prospects, New York-based food and beverages giant PepsiCo has made an offer to buy Pioneer Food Group, which makes Sasko breads and Ceres juices, in a deal worth at least R25.4bn.
AB InBev offloads Australian unit for $11.3bn
19/07/2019 - 09:03
Anheuser-Busch InBev (AB InBev), which shelved plans to list its Asia Pacific business in Hong Kong, said it will sell Australian subsidiary Carlton & United Breweries (CUB) to Japan’s Asahi Group for about $11.3bn (R157bn).
SAFW competitions offers entry into fashion industry
19/07/2019 - 08:41
It opened the door for David Tlale to showcase his designs at New York Fashion Work, Mmuso Maxwell to supply his garments to retail giant Woolworths and Clinton Lotter to take his work to the UK. Now, South African Fashion Week (SAFW) is once again looking to grow the fashion and creative industry by opening it to emerging designers.
US retail sales rise as households spend more
18/07/2019 - 14:16
US retail sales increased more than expected in June, pointing to strong consumer spending, which could help to blunt some of the hit on the economy from weak business investment.
Refinery celebrates diversity with new fashion campaign
18/07/2019 - 11:39
Local fashion retailer Refinery is set to make waves across the local industry with its new spring campaign which embraces diversity, encouraging others to be unashamedly, authentically themselves.