Woolworths has appointed Scott Fyfe as CEO of David Jones Australia, replacing outgoing Ian Moir, who has been in the position on a temporary basis.

Fyfe, who will start on October 26, has been CEO of Country Road Group for four years, having joined Woolworths after 20 years at UK retailer Marks & Spencer. 

Moir, once CEO of the group, led Woolworths’s 2014 decision to buy David Jones, which has written down by almost R12bn of its R21.5bn cost. 

“I look forward to leading the team and working with our many partners as we focus on the changing behaviours of our customers and delivering products and experiences for the future,” Fyfe said in a statement. 

Moir was replaced as CEO of the group in February by Roy Bagattini and moved to Australia, where he took over as head of David Jones. 

Moir is now leaving the business with a R77m payout, including a restraint-of-trade payment due in 2023, worth almost R35m. 

“We would like to thank Ian for his contribution to the group over more than 20 years, including his earlier leadership of Country Road Group and then as Woolworths group CEO,” said Bagattini.

Source: www.businesslive.co.za