Masters could go

Grant O’Brien, CEO of Australian retail group Woolworths, is leaving the company. Woolworths has just committed itself to a three-year restructuring plan, and the change could have consequences for the Masters DIY chain, the company’s joint venture with Lowe’s, which has not yet posted a profit. According to Woolworths chairman Ralph Waters, the new CEO will be given a free hand with regard to strategic planning. This could spell the end for Masters, or the chain could be sold off.
O’Brien is to remain on the board of Woolworths until a successor has been found.