New CEO for Woolies SA

Woolworths, which has proven to be resilient against economic tough times, has appointed a new CEO for its local unit.

Johannesburg - Woolworths, which has proven to be resilient against economic tough times, has appointed a new CEO for its local unit.

The company said in a statement on Wednesday that Zyda Rylands would take up the post of CEO of Woolworths South Africa. She will take responsibility for the entire Food and Clothing business across South Africa and Africa.

Woolworths, SA’s largest retailer by market value, says this brings consistency to the group structure as all its main business units now report into group CEO Ian Moir.

The retailer last week reported a 20.5 percent rise in full-year profit, boosted by sales at the Australian department store chain it bought last year and defying a tepid economy at home.

Adjusted pre-tax profit at the upmarket food and clothing retailer rose to R5.27 billion in the year to June from a R4.38 billion the previous year. Sales surged 55 percent to R61.97 billion, beating analysts' forecast.

Headline earnings per share - the most widely watched profit measure locally - rose 6.7 percent, diluted by stock issued to fund the acquisition of David Jones in Australia in August last year.

Rylands has worked in many parts of the Woolworths business including finance, human resources and operations during her 20-year career with the business.

“Under her leadership, Woolworths Foods has transformed into a sizeable foods business with a reputation for quality, innovation and sustainability. Since Zyda’s appointment, Woolworths Foods has seen 83% growth in turnover as well as a 240% growth in profit.,” the retailer notes.

Moir adds she is a “talented and inspirational retailer and leader and has delivered consistently strong results as MD of our Foods business – growing both market share and margin whilst understanding and anticipating our customers’ needs”.

Born and educated in Cape Town, Rylands completed a B.Com at the University of Cape Town and B.Com (Honours) at the University of the Western Cape. She then completed her articles at Kessel Feinstein and qualified as a chartered accountant in 1993.

In 2013, Rylands attended Harvard University and graduated from the Advanced Management Programme. She also attended the London Business School in 2005.

She has served on the board of FirstRand and she currently serves on the Consumer Goods Council of South Africa Board.

IOL