Stanton leaving after completing transformation project
The ongoing leadership changes at Woolworths have continued this week with the news that chief transformation officer Matt Stanton is stepping down from the role.
The former chief executive of Bauer Media joined Woolworths at the start of 2015 after seeing the transition of the magazine publisher from ACP to ownership by the German giant.
Since his arrival at the supermarket chain his role has been cloaked in secrecy as he worked on transformation of the back end of the business.
It is understood the work has been almost completed leading to the role becoming redundant.
Woolworths said in a statement Stanton had been an asset to the business as he helped to streamline operations and reduce costs, giving control back to the business units.
“Matt will leave Woolworths at the end of March,” the statement said.
“Transformation projects have now been embedded into the business divisions and his position will not be replaced. Matt has made a great contribution to Woolworths and we wish him well for the future.”
Stanton is just the latest in a string of senior executives to leave the retailer as it works to reset its foundations and take on competition from Coles and Aldi, as well as recover from its disastrous investment in the Masters business with US giant Lowes.
Former liquor boss Brad Banducci took the helm of the business in February, promising to bring and entrepreneurial spirit and retail discipline to the role.
Last month Woolworths sacked ad agency Leo Burnett, appointing M&C Saatchi, and saw it lose the top spot in the Brand Finance annual brand valuations.
Other moves have included a clean out of the marketing department over the past year.