Woolworths Holdings Limited (WHL) has announced a major leadership transition, with Group CEO Roy Bagattini set to retire at the end of September 2026 after more than six years at the helm of the retailer.
Woolworths Holdings Limited announced Sam Ngumeni as group chief executive officer, effective 1 June. Image supplied
As part of a long-planned succession process, the board has appointed current Food division CEO Sam Ngumeni as the new group CEO, effective 1 June 2026.
Bagattini will step down as CEO and executive director on 31 May 2026, before working closely with Ngumeni during a transition period leading up to his retirement.
Leadership transition aligned with strategic reset
The leadership change comes at a time when WHL says it has made significant progress in its strategic repositioning, strengthening its capital allocation discipline and long-term growth prospects.
During Bagattini’s tenure, the group implemented several key strategic moves, including the disposal of Australian department store business David Jones, deleveraging its balance sheet and increasing investment in core South African operations.
Woolworths Holdings Limited group chief executive officer, Roy Bagattini will retire at the end of September 2026. Image supplied
Other notable initiatives included the acquisition of Absolute Pets, the launch of Woolworths Ventures as a strategic growth accelerator and the company’s first-ever share buyback programme.
Bagattini also oversaw the repositioning of the group’s apparel businesses in both South Africa and Australia, aimed at strengthening their long-term competitiveness in a challenging retail environment.
“Leading Woolworths has been one of the great privileges of my career,” Bagattini said. “We have an exceptional team and I am proud of what we have been able to accomplish together. I leave confident that Woolworths is well placed for the future.”
Internal successor with deep institutional experience
Ngumeni brings nearly three decades of experience within the group, having held several senior operational and strategic roles. He currently leads the Woolworths Food division, which has delivered consistent above-market growth and reinforced its position in South Africa’s premium food retail segment.
Previously, as group chief operating officer, Ngumeni oversaw a wide range of core functions across the business including stores, online, supply chain, IT, data and analytics, real estate and the group’s African operations.
WHL chairman, Clive Thomson said Ngumeni’s track record and leadership capabilities made him well suited to guide the retailer into its next phase of growth.
“Sam has extensive experience across various roles and functions within the group and a proven ability to set clear strategic priorities and execute effectively. His institutional knowledge, commercial acumen and strong capability to drive performance will be invaluable as the group intensifies execution in a rapidly evolving retail environment,” Thomson said.
Focus on next phase of growth
Ngumeni said he was honoured to take on the role at what he described as a pivotal moment for the business.
“I am deeply honoured to be appointed as Group CEO of this iconic company. I feel a profound sense of responsibility in leading this business in the next phase of its growth trajectory and am excited about the opportunities and challenges that lie ahead,” he said.
The board added that it has full confidence in Ngumeni’s ability to lead the group as Woolworths continues to build on the strategic foundations laid in recent years and pursue long-term value creation in a rapidly evolving retail landscape.
