Zyda Rylands. Picture: HETTY ZANTMAN
Retail analyst Syd Vianello said new CEO Roy Bagattini was “cleaning house”, and called the move “a demotion” for Rylands, who is believed to be behind the growth of the Woolworths food business, the market leader in SA’s high-end food retail. “I think Rylands is taking the rap for the poor apparel result in her capacity as head of Woolworths SA operations. The buck stops at the top, so they say,” Vianello said.
The group said Rylands, who has been CEO of Woolworths SA since 2015, had taken early retirement, due to take effect from the end of September. But it had persuaded her to stay put as the head of the food division where she has enjoyed phenomenal success. The Woolworths food business recorded R19.7bn in turnover in 2015, which almost doubled to R35.2bn in 2020 under Rylands, who is driving an increased focus on lowering prices. “I doubt if she will stay the full period because it really is a big demotion, but let’s see," Vianello said.
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