Australia’s largest supermarket chain, Woolworths Limited, today reported an increase in Net Profits After Tax (NPAT) of 5.1% for the year ending 26 June 2011. Woolworths’ outgoing CEO Michael Luscombe anticipated trading over the next year to be “subdued”, due to falling consumer confidence. Commenting on the company’s full-year results, published today, Woolworths CEO Michael Luscombe claimed the company’s profit increase to be a “sound result” given the “particularly... ...Read more »

Woolworths Limited has recruited the current CEO of Tesco Malaysia as its new Director of Australian Supermarkets and Petrol. Tjeerd Jegen, 40, has held store operations, commercial, marketing and general management roles with three leading international retailers in seven countries. He was Chief Operating Officer for Tesco Thailand before his appointment as CEO in Malaysia, in early 2010. Woolworths Limited Deputy CEO Grant O’Brien said, “Whilst an external appointment might be viewed as an... ...Read more »

Grant O’Brien, the CEO-designate of major Australian supermarket group Woolworths Ltd, has announced a series of senior management changes.Greg Foran, director of its Australian and New Zealand food, liquor and petrol division, has resigned from his position and will be leaving the retailer within the next few months “to pursue new career opportunities”. The company said that, with Foran’s assistance, the company has found a successor whose name will be announced in due course. Foran... ...Read more »

Campbell Soup Co. has appointed former Coca-Cola Co. executive Gareth Edgecombe to the role of president of its operations in Asia-Pacific.Edgecombe will be responsible for the company’s Australian, Asian and Pacific operations, including the Arnott’s biscuits brand and Campbell’s soup. He will be based at Campbell Arnott’s regional headquarters in Sydney and will report to Mark Alexander, president of Campbell International. His appointment is effective from 8 August. Edgecombe... ...Read more »

US food group Cargill has announced a shake-up of its senior management, naming current CFO David MacLennan into the new role of president and chief operating officer.The company’s chairman and CEO, Greg Page, said yesterday that the moves would better position the company for growth, “particularly in the world’s fastest growing economies”. Additionally, Sergio Rial has been promoted from senior vice president and regional director for Latin America to executive vice president... ...Read more »

Wallace McCain, chairman of Canadian food group Maple Leaf Foods, and co-founder of frozen chip maker McCain Foods, has died at the age of 81. McCain died on Friday (13 May) in Toronto following a battle with pancreatic cancer. His death was announced by Maple Leaf’s board, which is yet to appoint his successor. “His incredible success in business was always balanced with the importance of family and community,” said Michael McCain, CEO of Maple Leaf Foods and Wallace’s son.... ...Read more »

Bread giant Goodman Fielder has announced a reduction in its expected profits following a “soft” third quarter, with businesses affected by retailer competition between Coles and Woolworths, fallout from the floods, commodity costs and the high Australian dollar. “At the time of the release of the company’s Interim results, the company anticipated that NPAT for the year would be in line with the prior year’s normalised earnings. The company now expects FY 2011 NPAT to be in... ...Read more »

Pietro Ferrero, the joint chief executive at Italian confectionery giant Ferrero, has died in South Africa, the company has confirmed. Mr Ferrero, 48, was on a business trip in South Africa, a spokesman told just-food yesterday. The exact details of Mr Ferrero’s death are unclear, although the spokesman suggested the company believed the executive became ill while out cycling and fell from his bike. However, the spokesman added: “We don’t know the exact information. The details... ...Read more »

The chairman of Australian food manufacturer Goodman Fielder has warned that the company “continues to confront commodity cost pressures and significant price volatility”. In a letter sent to shareholders last week, Max Ould said the breads-to-spreads manufacturer said its “challenge” will be to recover the increases in the marketplace. However, he added that it will be “even more difficult” for Goodman Fielder to recover its cost increases “given the extreme... ...Read more »

Woolworths today confirmed the retirement of CEO Michael Luscombe, and his replacement by the company’s Chief Operating Officer for Australian Food and Petrol, Grant O’Brien. Speculation began late last year that Luscombe, who helmed the company through the GFC and the post-stimulus-package slowdown, was planning to retire. Today’s announcement confirms that Luscombe will hand over the reins on October 1st – his fifth anniversary as CEO. The Board of Woolworths Limited has... ...Read more »