Woolworths has named Steve Johnson, former boss of DIY group Focus and consultant at Bain & Company, as chief executive

Johnson will succeed incumbent Woolworths boss Trevor Bish-Jones on September 1 and will be responsible for leading a turnaround of the troubled variety store group.

He will be paid a basic salary of£550,000 and will be entitled to a cash bonus of up to 50 per cent of his salary for performance in the period to end-January next year, as well as various other incentives.

Woolworths chairman Richard North said: “With his strong background in both retail and consultancy, together with his particular experience in achieving a turnaround at Focus, he brings the strategic and operational skills that the group needs.”

Johnson said: “I will be focused on value creation for all stakeholders as we seek to move the group forward.”

Aside from Focus, Johnson has previously worked for home shopping group GUS and grocery giant Asda.

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