Reporting season: the most interesting meeting we attended

Woolworths has undergone some well publicised, major changes in the past year, not the least of which has been the change in CEO. Perpetual attended the latest meeting with management, and Paul Skamvougeras, Head of Equities, identified it as the most interesting one of the season. “Brad is a very safe pair of hands, he’s got a very clear strategy moving forward. We also like the fact that he has been looking after the supermarkets business, and the Chairman, also Roger Corbitt who is an adviser to the board have had a good chance to have a look at him under the spotlight.” While many were calling for an external appointment, Mr Skamvougeras thinks the internal appointment has merit. “He knows it’s a difficult task to turn this business around, but he’s got a very clear focus on how he can reinvigorate the sales line at Woolworths, and that’s really what’s needed.” Watch the video to learn where to find value: