Woolworths has announced David Walker will replace Matt Tyson as the managing director of its ailing Home Improvement business.

Tyson, who is leaving the business to return to the UK, will become a consultant to Woolworths and advise on the exit process for the home improvement arm which includes the Masters hardware chain.

Walker assumes the role of MD having served as general manager finance of the home improvement venture.

“David Walker has extensive experience working in finance across Woolworths and is well placed to guide our home improvement business,” said Woolworths CEO, Grant O’Brien. “He will be well supported by relevant senior management members across the business involved in the exit process.”

O’Brien said Tyson was “held in high regard by his colleagues” across Woolworths and that the company would “benefit from his advice as we go through the exit process.”

The management change comes ahead of the release of Woolworths half year results on February 26, preceded by rival Wesfarmers HY two days earlier.

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