Michael Luscombe facts for kids
Michael Gerard Luscombe (born 22 July 1953 – died 27 April 2018) was an important Australian businessman. He was the main boss, called the CEO, of Woolworths. Woolworths is one of Australia's biggest shopping companies. He led the company from 2006 to 2011.
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His Early Life
Michael Luscombe went to school at De La Salle College, Malvern. He then studied at Monash University. In 1978, he finished his studies with a degree in economics.
His Career at Woolworths
Luscombe started working at Woolworths in 1978. He began as a trainee in a store at Mount Buller in Victoria. He slowly moved up in the company. By 1990, he was the operations manager for Victoria.
In 1991, he worked for ANZ as a national manager. He returned to Woolworths in 2004. He became the director of supermarkets. He helped the company take over more than 150 new stores.
Becoming CEO
In October 2006, Michael Luscombe became the new CEO of Woolworths. As CEO, he faced some challenges. Australia's consumer watchdog, the Australian Competition & Consumer Commission, looked into Woolworths' business practices. They were concerned about how Woolworths used planning rules. The company sometimes objected to new supermarkets being built by its rivals.
Starting Masters Home Improvement
In August 2009, Luscombe announced a new business. It was called Masters Home Improvement. This new company sold hardware and aimed to compete with Wesfarmers' Bunnings Warehouse stores. He thought Masters would start making money in a few years.
However, in January 2016, Woolworths decided to close the Masters business. The company had spent over two billion Australian dollars on it. Financial experts expected more losses when closing it down.
On 4 April 2011, Luscombe announced he would retire. He left his role as CEO of Woolworths in October that year.
His Death
Michael Luscombe passed away on 27 April 2018. He died from a rare brain disease called Creutzfeldt–Jakob disease.
