Woolworths Limited
(ASX:WOW) full year profit has slumped 12.5 per cent to $2.1 billion and announced a new Chairman.
The supermarket giant reports revenue was down 0.1 per cent to a little over $61 billion saying a competitive environment will necessitate lower margins.
The company says its Chairman Ralph Waters will resign with Gordon Cairns to take on the role.
Mr Cairns was previously CEO of Lion Nathan, he is currently Chairman of Origin Energy and he is a director at Macquarie Group.
A final fully franked dividend of $0.72 has been declared bringing the total payment to $1.39.
