Australia: Woolworths CFO to retire

Australia: Woolworths CFO to retire

Tom Pockket is to step down as Woolworths CFO in January 2014, Just Food reports. He is to be replaced by David Marr, currently general manager of corporate finance at the market-leading Australian grocery retailer.

Pockket has spent 11 years in charge of finance at Woolworths. Chairman Ralph Waters stated:  “It has been Tom’s wish for more than 12 months to retire and the board prevailed upon him to stay during this critical time in Woolworths' transformation."

Grant O’ Brien, CEO of Woolworths, thanked Pockket personally. “I have known Tom for some time but his sage advice and wisdom over the last couple of years has been invaluable to me and I thank him for that."

Marr joined Woolworths in 2011 after a period of three years in finance and supply chain roles at Tesco.

According to Just Food, Woolworths has been engaged in a fierce battle with Coles, its main rival in Australia. Coles is the country’s second largest grocery retailer behind Woolworths and has been outperforming the market leader in recent quarters.

Source: Just Food