13 Mar 2026 New CEO for Woolworths

Longtime Woolworths senior director Sam Ngumeni, who has been with the group for three decades, has been appointed group CEO of Woolworths, effective 1 June 2026….

This comes as the group also confirmed the retirement of current CEO Roy Bagattini (left above) in September, after six years at the helm.

“The group has a wealth of deep talent, and the board is delighted to confirm the appointment of an internal successor, being Sam Ngumeni (right above), as the new WHL Group CEO with effect from 1 June 2026. Sam’s appointment is made in accordance with the WHL appointment of directors policy,” Woolies said in Sens statement.

“Roy Bagattini will be retiring from the company at the end of September 2026, following more than six years of dedicated service to the WHL Group. His retirement follows a period of careful consideration by himself and the board, and forms part of a comprehensive succession plan that has been in process for some time,” it said.

“Under Roy’s stewardship, the group has materially strengthened its capital allocation framework and disciplines and fundamentally enhanced its long-term growth and value creation prospects,” it added.

Ngumeni’s track record

“Sam has an exemplary track record, having been with the group for almost thirty years, and serving as an executive director of WHL since 2014,” the company said.

“He is currently the CEO of the Food division, having previously held various senior executive positions across the group, including that of group COO, Group Director of HR & Transformation, and CEO of Woolworths Financial Services.

“Sam is also a member of WHL’s Risk, Information and Technology Committee, the Sustainability Committee, and the Social and Ethics Committee. He also serves on the boards of the group’s major subsidiaries, being Woolworths (Pty) Ltd and Country Road Group (Pty) Ltd,” it added.

‘I am deeply honoured to be appointed as Group CEO of this iconic company, and one which is held in such high regard in our country,” said Ngumeni.

“I would like to thank Roy for his stewardship over the past six years and thank the board for the confidence they have placed in me. I feel a profound sense of responsibility in leading this business in the next phase of its growth trajectory and am truly excited about the opportunities and challenges that lie ahead for us,” he added.

WHL’s chair Clive Thomson pointed out that Ngumeni has extensive experience across various roles and functions within the group, adding that he has a proven ability to set clear strategic priorities and execute effectively

“He is a principled and highly respected executive, able to inspire and empower leadership teams to deliver on key strategic and operational initiatives across our businesses,” said Thomson.

“His deep institutional knowledge, commercial acumen, and strong capability to drive performance will be invaluable as the group further intensifies its execution in a rapidly-evolving retail environment,” he added.

Comment from Finance Ghost….

 “I don’t think you’ll find too many investors who feel that his remuneration over a six-year period was justified by the performance of the group, but that’s often how these things go.

“Personally, I’m glad to see that his replacement is an internal appointment, especially after South African retailers went through a phase of bringing in offshore CEOs. This seems to be behind us now, with Sam Ngumeni stepping into the CEO role with effect from 1 June 2026.

“This means that the final few months of Bagattini’s time at Woolworths will be for handover purposes.

“Ngumeni has been with the group for nearly 30 years and currently runs the Woolworths Food division. It’s rare to see a career path of this nature these days. I think this is an exciting appointment.”

Source: Woolworths, FinanceGhost

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