Considering Woolworths shares? Here’s why this key exec just jumped ship for Amazon

Those invested in Woolworths Group Ltd (ASX: WOW) shares might be interested to learn one of the company’s executives is leaving their position for a leadership role at Amazon.

Woolworths managing director of B2B and Everyday Needs, Claire Peters, will take up a new position as vice president worldwide at Amazon Fresh, the retail giant’s grocery leg, next year.

Let’s take a closer look at the upper-management shakeup soon to be experienced by the S&P/ASX 200 Index (ASX: XJO) supermarket giant.

Woolworths shares are currently trading flat at $39.40 apiece.

Key Woolworths executive to step down

One of the top jobs at Woolworths is set to be vacated in 2023 after Peters agreed to pack up and move to Seattle for a leadership position at Amazon Fresh.

Peters has been with the Aussie supermarket operator since 2017, when she took up the role of managing director of Woolworths supermarkets. She was appointed to her current role in 2020.

Woolworths CEO Brad Banducci commented on Peters’ resignation, saying:

Claire has played a key role in transforming Woolworths Supermarkets and building the foundations of B2B and Everyday Needs.

In her five years with the company, Peters saw the transformation of Big W, the establishment of the company’s meat business Greenstock, and the progression of partnerships such as those with Endeavour Group Ltd (ASX: EDV), PFD Food Services, and Ampol Ltd (ASX: ALD).

Peters’ decision to jump ship may have come down to her prospective future at the supermarket giant, where she might not have been able to rise to the helm, a source reportedly suggested to the Australian Financial Review.

Banducci continued:

The biggest imprint Claire will leave on our business is her care for team and communities, on show in the leadership role she played during the repeated waves of COVID, and her purposeful work on reconciliation with the support of the First Nations Advisory Board.

Woolworths share price snapshot

It’s been a decent year so far for the Woolworths share price.

The ASX defensive stock has gained 2% since the start of 2022. Though, it’s currently trading 5% lower than it was this time last year.

For comparison, the ASX 200 has dumped 6% year to date and has fallen 5% over the last 12 months.

The post Considering Woolworths shares? Here’s why this key exec just jumped ship for Amazon appeared first on The Motley Fool Australia.

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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Amazon. The Motley Fool Australia has recommended Amazon. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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