JOHANNESBURG – South Africa-based multinational retail group, Woolworths, on Monday appointed independent non-executive director Hubert Brody as deputy chairman of the board with immediate effect as part of the group's succession planning process.
This as Woolworths said that Simon Susman, the current chairman of the board, and lead independent director Tom Boardman, will step down from their respective positions with effect from the conclusion of the 2019 annual general meeting (AGM), each having respectively served a nine-year term.
Susman will become honorary president upon conclusion of the 2019 AGM, following his resignation as a director. Woolworths 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 the group's participation in civil and corporate society.
The retailer said that the board will appoint Hubert as chairman of the board and Zarina Bassa as the lead independent director with effect from the conclusion of the 2019 AGM.
African News Agency (ANA)