Business Services Industry
British Retailer Woolworths Gets New Chief Executive.
Knight Ridder/Tribune Business News, March, 2002
By Lucy Farndon, Daily Mail, London Knight Ridder/Tribune Business News
Mar. 27--Past problems at the top of former Kingfisher chain Woolworths became abundantly clear when it revealed that UKpound 20 million of old CDs and videos have been gathering dust in stockrooms for three years.
"They were just sitting there in the stores," said chairman Gerald Corbett, who took the helm last year.
He has made sweeping changes ? including a new chief executive, Trevor Bish-Jones ? to put the business on a sound footing.
"We have come a long way since last year when people were wondering whether the demerger would go ahead, and who would be chief executive," said Corbett.
But the retailer slumped from a UKpound 54 million pretax...
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