03 Sep 2015 Woolworths promotes Zyda Rylands to SA chief
Woolworths on has appointed Zyda Rylands, its current head of foods, as CEO of Woolworths SA. The new role has been created almost a year after the group, with a market cap of close to R103bn, became the second-largest department store owner in the southern hemisphere after its R23.3bn buyout of Australia’s David Jones and total ownership of Country Road Group.
Ian Moir remains group CEO of Woolworths, as well as chairman of David Jones.
Rylands, who has been with the group for 20 years, will be responsible for the food and clothing business across SA and the rest of the continent. She is largely credited with the success of the food business, which has made consistent market share gains since September 2011.
A Harvard and London Business School alumna, Rylands was a financial analyst at Caltex Oil’s South African operation before joining the Cape Town-based retailer. She is a chartered accountant by profession.
“This year has been transformational for our group with the acquisition of David Jones turning us into a southern hemisphere retailer of scale. Ensuring each major business has a CEO who is clearly focused and responsible for driving growth and profitability will better position us to deliver our strategic objectives,” Moir said.
“Zyda … has delivered consistently strong results as MD of our foods business, growing both market share and margin whilst understanding and anticipating our customers’ needs.”
The post brings consistency to the company’s structure, with all of the heads of the main business units — Woolworths SA, David Jones and Country Road — as well as the group positions of chief operating officer, chief financial officer and group secretary, reporting to Moir.
Rhynhardt Roodt, a portfolio manager at Investec Asset Management, said the appointment made sense as Woolworths was now a larger business,
“It’s a natural transition of a business that is becoming more global; we’ve seen similar moves with … SABMiller and British American Tobacco.
“Woolworths has a reputation of having a lot of depth … this is a very competent appointment. Ian, who is held in very high regard, is still there overall but his time is more stretched now that he has to look after a sizable business here and in Australia and he needs someone who can report directly to him — it clears up reporting lines.”
About 60% of Woolworths’s operating profit is made in Africa, the rest in Australia.
Related reading:
Chatting to Zyda Rylands
Growing up as a fisherman’s daughter in the midst of apartheid, Zyda Rylands, now the MD of Woolworths Food [now CEO Woolworths SA], is proof of the pudding that workforce diversity is what drives the competitive advantage of one of the leading retailers in South Africa…
Here, Rylands shares her personal journey and urges other women not to limit their aspirations. “We see the world through a different lens and we have enriched the business world with our experiences, perspectives and approach,” she says.
Mention some of the challenges faced throughout your ascent in the corporate world, and how you overcame them.
I was born in Cape Town in 1964 and grew up during a very volatile chapter of our country’s history. I realised early on in life that I had to work hard and stay focused on what I wanted to achieve. There are no free lunches. I received a study loan from a business associate of my father and worked every weekend and holiday to repay the loan.
My motto in life has always been that ‘you suffer the pain of sacrifice or suffer the pain of regret’, and I did not want to regret anything in life. I completed a BCom at the University of Cape Town and completed my Honours degree through the University of the Western Cape. I was very proud to complete my articles at Kessel Feinstein and qualified as a chartered accountant in 1993.
Along the way I have had the privilege of working with incredible people and exceptional leaders, who mentored, encouraged and believed in me. In life we have to seek out those we aspire to be like. We also need to acknowledge our loved ones. They are the people that anchor us in life and that support us most in our endeavours.
Do you think your family history influenced your progression into the food department?
I come from a rich-and-vibrant culture. We love to celebrate, and like many other cultures we do so around the table with food. I have always had a love and passion for food, and as food plays such a big role in our business, it was always my desire to experience this side of our business.
To be a ‘foodie’ in Woolworths is a very special thing. An understanding of foods opens up an entire world and helps us make a real emotional connection with our customers. I am passionate about food and have many treasured family recipes. I love to cook and entertain family and friends when I have the time. The progression into foods was therefore an exciting opportunity for me, and a journey filled with much learning and discovery.
What are you most proud of, in terms of what you’ve achieved throughout your career and at Woolworths?
I have been blessed with many achievements, most recently, the building of the foods business over the last five years, with the support of many wonderful people. I have been privileged to work in many branches of this business and have gained an enormous amount of experience and knowledge along the way.
What I am most proud of is our incredible brand. Woolworths is a brand that has been built on strong values. We are obsessed with quality, excellence and doing the right thing. Our brand is conscious and in touch with our customer and their needs.
This includes having a conscience, caring about where we source our products, driving sustainability, equity and caring for our communities. We are an organisation with the purpose of making a difference, because we care. We are clear that how we do things does matter. My leadership role in guarding that is my most important role.
I am truly very proud of working for a company that has deeply held values. Quality, style, innovation, integrity, energy and sustainability make up the Woolworths ‘difference’……