The publicly listed Woolworths Limited has announced that two non-executive directors, Sir Roderick Deane and John Astbury, will retire from the board on 31 August 2013..

Woolworths chairman Ralph Waters said the retirements were part of the succession process and had enabled a suitable transition period following the appointment of three directors in January 2012.

Waters paid tribute to Deane’s and Astbury’s long term contribution to the company’s growth, transformation and financial success.

"Roderick Deane joined the Woolworths Board in 2000. He has made particular contribution in areas such as people strategy, financial management and providing sage advice on the company's growth initiatives.

"John Astbury joined the Woolworths Board in 2004. He has made particular contribution in areas such as financial management and governance, having twice chaired the company's audit, risk management and compliance committee and championing the company's growth initiatives." 

Astbury will remain as director of the home improvement join venture company Hydrox Holdings.