Woolworths names Sam Ngumeni as next CEO ahead of Roy Bagattini’s retirement
Leadership change set for June as long-serving executive steps up
SOUTH AFRICA – Woolworths Holdings Limited has appointed Sam Ngumeni as its new chief executive officer, with the leadership change scheduled to take effect on 1 June.
The incoming CEO will assume the role from Roy Bagattini, who is set to step down at the end of September after serving in the position for more than six years.
Ngumeni’s appointment follows a lengthy internal process, with the board indicating that the company has reached a point where a leadership handover can proceed without disrupting operations.
He has spent close to 30 years within the retailer, holding a range of senior positions that include chief operating officer and, more recently, head of the food division.
Leadership transition timing
The company said the timing of the change aligns with the completion of key strategic initiatives undertaken during Bagattini’s tenure and his planned retirement.
In a statement, the retailer said both the board and Bagattini agreed that the transition comes at a stage when the business has stabilised and is positioned to continue its current direction.
The group added that recent changes to its operating model and investment focus have created conditions that allow for continuity under new leadership.
Strategic shifts under outgoing CEO
During his time in charge, Bagattini oversaw the disposal of the David Jones business in Australia, which had been underperforming.
The company also reduced its debt levels, redirected capital towards its South African operations, and acquired pet retailer Absolute Pets as part of its expansion strategy.
In addition, Woolworths introduced its first share buyback programme and made changes to its fashion segment in both South Africa and Australia aimed at improving product availability and brand positioning.
Ngumeni, who currently leads the food division, is expected to continue overseeing the group’s operational priorities while taking on broader executive responsibilities.
Board chair Clive Thomson said Ngumeni’s experience across different areas of the business and his track record in executing strategy were key factors in the appointment.
The transition is expected to proceed over several months, allowing for a phased handover before Bagattini formally exits the company at the end of September.
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