Woolworths has announced that Steve Johnson will be joining the company as chief executive as of September 1.
Johnson, 44, was most recently chief executive of Focus DIY, a post he held for four years until July 2007. He has also worked for GUS and Asda, and is currently a non-executive director of Unipart.
Johnson will join the struggling retail chain on a basic salary of £550,000, and has also been promised performance-linked bonuses each worth up to half that again.
Commenting on Johnson’s appointment, Woolworths’ chairman Richard North noted “his particular experience in achieving a turnaround at Focus.
“We’re sure that he has a great deal to contribute to the recovery and growth of the Woolworths Group,” he said.
Johnson, who replaces Trevor Bish-Jones, said he would “be focused on value creation for all stakeholders”.
