Michael Luscombe (???-2018)
This memorial website was created in memory of Michael Luscombe, born on Unknown 0, 0 and passed away on April 26, 2018.
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was an Australian businessman. He was the CEO and managing director of Woolworths Limited, the largest retail company in Australia, from 2006 until 2011. Luscombe began working for Woolworths in 1978 as a graduate trainee in the company's store at Mount Buller in Victoria. He progressed through the company gradually, and became Victorian operations manager in 1990. In 1991, he became national manager for banking at ANZ. In 2004, he was appointed director of supermarkets at Woolworths, and oversaw the company's takeover of more than 150 new stores.
In October 2006, Luscombe was announced as the new CEO of Woolworths Ltd.
Luscombe faced pressure from Australia's consumer watchdog, the Australian Competition and Consumer Commission, over its practice of using planning laws to object to the construction of supermarkets by its competitors.
On 4 April 2011, Michael Luscombe announced that he would be retiring as CEO of Woolworths Ltd in October.
In August 2009, Luscombe announced the launch of Masters, a hardware retailing business to take on the Wesfarmers Bunning Group. At that time, hestated to the financial press that Masters was expected to be profitable in two to three years. In January 2016, Woolworths announced the cessation of the Masters business after the expenditure of in excess of two billion AUD dollars. Financial analysts expect further losses of approximately one billion Australian dollars in closing down the business.
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This page was created on 2018-12-31T00:00:00
Last changed on 2021-01-17T13:35:00
Created by: Milka and maintained by: Sysoon.
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