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Australian Retailing – a bright but competitive future

“Retiring Woolworths chief executive Roger Corbett says Australian retailers must strive to deliver world class standards. He also said Australian retailing had a bright but competitive future. Mr Corbett’s departure comes only weeks after the company delivered its first $1 billion net profit, after grabbing more than $4 billion in acquisitions during his term. The Profit result is around four times what the company was making when he took over the position. Mr Corbett who says his Christian faith has helped him in his work was known to go price checking in rival supermarkets, and to visit his own Woolworths stores and take over the PA system to praise staff & thank customers. He wont be retiring completely as he leaves with a 5 year $3 million consultancy arrangement and retains his board seats at John Fairfax and the Reserve Bank.”

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