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Simon Susman will be succeeded by former Imperial and Sanlam Personal Finance CEO Hubert Brody.
Simon Susman will be succeeded by former Imperial and Sanlam Personal Finance CEO Hubert Brody.

Woolworths chair Simon Susman to step down


By Robert Laing - Nov 12th 2018, 10:10

Woolworths chair Simon Susman will be succeeded by former Imperial and Sanlam Personal Finance CEO Hubert Brody at its 2019 annual general meeting (AGM), which is likely to take place in a year’s time. 

The retail group issued a statement saying Brody had been appointed deputy chair ahead of replacing Susman at its 2019 AGM. Woolworths’ 2018 AGM is scheduled for November 30.

Susman — whose father David transformed what was once the South African arm of US multinational Woolworths into a local version of UK retail chain Marks & Spencer — will receive the title of the retailer’s honorary president when he retires as a director.

“He will provide support and advice to the board and continue his deep association with the group by devoting his time to the continued advancement of Woolworth’s participation in civil and corporate society,” the statement said.

Susman was appointed Woolworths CEO in 2000, moving to the role of chair in 2010.

Woolworths also announced that Tom Boardman will be replaced by Zarina Bassa as lead independent director at its AGM in November 2019.
Business Live 

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