Page last updated at 06:35 GMT, Tuesday, 12 August 2008 07:35 UK

New boss for troubled Woolworths

Woolworths store
Woolworths's former boss quit as sales sank at the group

Retailer Woolworths has named former Focus DIY chief executive Steve Johnson as its new boss.

Mr Johnson, 44, will replace Trevor Bish-Jones who announced his resignation from the post in June.

Mr Johnson said he would be focusing on "value creation for all stakeholders" when he joins the firm in September.

Woolworths has been suffering from a decline in sales. Last month it said same-store sales fell 6.7% in the six weeks to 26 July.

The retailer said it was "delighted" that Mr Johnson was joining the company.

"His strong background in both retail and consultancy, together with his particular experience in achieving a turnaround at Focus, he brings the strategic and operational skills that the Group needs to help it move to the next stage of its development," it added.

Under the terms, of his contract Mr Johnson will be paid 550,000 a year and is also eligible for a performance and targets bonus worth up to 50% of salary.


SEE ALSO
Sales slide again at Woolworths
29 Jul 08 |  Business
Head of Woolworths to step down
18 Jun 08 |  Business
Woolworths faces disclosure fine
12 Jun 08 |  Business
Woolworths sees challenges ahead
02 Apr 08 |  Business
Sales decline knocks Woolworths
16 Jan 08 |  Business

RELATED INTERNET LINKS
The BBC is not responsible for the content of external internet sites


FEATURES, VIEWS, ANALYSIS
Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

BBC navigation

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.

Americas Africa Europe Middle East South Asia Asia Pacific