Debra Singh is out the door but her replacement is still unidentified.
As reported by the media yesterday, the departure of Dick Smith’s MD Debra Singh was confirmed by a Woolies spokesperson today.
“There will be someone else acting in the role of MD” a spokesperson told Smarthouse but refused to confirm the person’s identity.
Singh is set to leave the role in mid-August and played an active role in the divestment process of the Woolies owned electronics chain.
The timing of the move is said to be associated with Woolies’ grand plan to divest its Dick Smith chain as it struggles against intense competition in the consumer electronics sector.
However, Woolies was giving nothing away about where it’s at with the divesting of the company, first announced earlier this year, with the spokesperson stating it was still in play and there was no timeline attached to the deal.
A private equity group as well as an overseas buyer are believed to be among the final bidders for the retail chain and a private syndicate headed by ex Woolies CFO Bill Wavish has also been flagged by the AFR.
An announcement on a successful bidder is widely expected this month, however.