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Longtime Woolworths senior director Sam Ngumeni, who has been with the group for three decades, has been appointed group CEO of Woolworths Holdings Limited (WHL), effective 1 June 2026, the retail giant announced on Thursday.<\/p>\n
This comes as the group also confirmed the retirement of current CEO Roy Bagattini in September, after six years at the helm.<\/p>\n
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\u201cThe group has a wealth of deep talent, and the board is delighted to confirm the appointment of an internal successor, being Sam Ngumeni, as the new WHL Group CEO with effect from 1 June 2026. Sam\u2019s appointment is made in accordance with the WHL appointment of directors policy,\u201d Woolies said in Sens statement.<\/p>\n
\u201cRoy Bagattini will be retiring from the company at the end of September 2026, following more than six years of dedicated service to the WHL Group. His retirement follows a period of careful consideration by himself and the board, and forms part of a comprehensive succession plan that has been in process for some time,\u201d it said.<\/p>\n
\n\u201cFollowing significant progress in the strategic repositioning of WHL, and given Roy\u2019s pending retirement, it is now the optimal time to transition leadership as the group continues to build on its strengthened foundations and prospects for growth.<\/p>\n
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\u201cUnder Roy\u2019s stewardship, the group has materially strengthened its capital allocation framework and disciplines and fundamentally enhanced its long-term growth and value creation prospects,\u201d it added.<\/p>\n
Ngumeni\u2019s track record<\/strong><\/p>\n
\u201cSam has an exemplary track record, having been with the group for almost thirty years, and serving as an executive director of WHL since 2014,\u201d the company said.<\/p>\n
\u201cHe is currently the CEO of the Food division, having previously held various senior executive positions across the group, including that of group COO, Group Director of HR & Transformation, and CEO of Woolworths Financial Services.<\/p>\n
\u201cSam is also a member of WHL\u2019s Risk, Information and Technology Committee, the Sustainability Committee, and the Social and Ethics Committee. He also serves on the boards of the group\u2019s major subsidiaries, being Woolworths (Pty) Ltd and Country Road Group (Pty) Ltd,\u201d it added.<\/p>\n
\n\u2018I am deeply honoured to be appointed as Group CEO of this iconic company, and one which is held in such high regard in our country,\u201d said Ngumeni.<\/p>\n
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\u201cI would like to thank Roy for his stewardship over the past six years and thank the board for the confidence they have placed in me. I feel a profound sense of responsibility in leading this business in the next phase of its growth trajectory and am truly excited about the opportunities and challenges that lie ahead for us,\u201d he added.<\/p>\n
Woolworths\u2019s share price<\/strong><\/p>\n
WHL\u2019s chair Clive Thomson pointed out that Ngumeni has extensive experience across various roles and functions within the group, adding that he has a proven ability to set clear strategic priorities and execute effectively<\/p>\n
\u201cHe is a principled and highly respected executive, able to inspire and empower leadership teams to deliver on key strategic and operational initiatives across our businesses,\u201d said Thomson.<\/p>\n
\u201cHis deep institutional knowledge, commercial acumen, and strong capability to drive performance will be invaluable as the group further intensifies its execution in a rapidly-evolving retail environment,\u201d he added.<\/p>\n<\/p><\/div>\n