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Struggling retailer Woolworths has finally found a new chief executive with the appointment of Steve Johnson, the former boss of Focus DIY.
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Under his two-year contract, Mr Johnson will receive a basic pay of £550,000, plus performance-related cash bonuses and up to 24m shares.
Steve Johnson successfully turned around Focus DIY, but he has his hands full trying to turn Woolworths around in the face of a sharp consumer downturn. Until evidence of his impact begins to show, Woolworth is fairly priced at 6.83p.
Last IC View: Fairly priced, 5.55p, 29 Jul 2008
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-IC-1.5.4a-prod - 31/10/2008 13:11:34 - carlos.princz
