Quick facts

Family: Married to Rosemary, a former teacher. Three children: Amanda, a marketer; Sarah, a teacher, and Robert, a salesman.[1]

Age: 71

Residence: Sydney, Australia. Corbett is the only member of Walmart’s Board of Directors to be based outside the United States.

Corbett, the former CEO of Woolworths, the largest retailer in Australia,[2] has been on the Walmart Board of Directors since 2006. He is the current Chairman of the Board for Fairfax Media, an Australian media company that owns three national daily papers as well as the Financial Review and a number of radio stations.[3]

Wealth

Corporate pay

Corbett was compensated $304,846 for serving on the Walmart Board of Directors in FY2014.[4] He also owns about $1.3 million (U.S. dollars) of Walmart stock.[5]

Educational and professional background

Education

  • University of New South Wales: Bachelor of Commerce[6]
  • Stanford University: MBA[7]
  • University of Southern Queensland: Honorary Doctorate in Business (2004)[8]

As a child, Corbett attended the Shore School, a prestigious boys school,[9] attended by many high-profile Australians.[10]

Professional life

Woolworths, Ltd. (Australia)

Corbett was CEO and Group Managing Director from January 1999 to September 2006. When Mr. Corbett retired from the company in 2006, Woolworth’s was Australia’s largest private sector employer.[11] Mr. Corbett served as Chief Operating Officer of Woolworths Ltd. since July 1998, Managing Director, Retail since July 1997 and Managing Director, BIG W since May 1990. At his retirement, Corbett announced he would continue to work with Woolworths as a consultant until 2011.[12] At the time of his retirement, one news report, reflecting on Corbett’s tenure, stated that he “has overseen a phenomenal growth period, driving group sales up from $18.4 billion to $31.3 billion last year, while in the same period the share price has more than tripled.”[13] Under Corbett, Woolworths adopted the slogan “everyday low prices,” modeled on Walmart’s strategy, and when he was in charge of Woolworths, Corbett met annually with then-Walmart Director Jack Shewmaker. The two companies have been described as having a “close relationship.”[14]

Corporate boards

  • Wal-Mart Stores, Inc.: Director, November 2006-present
  • Fairfax Media, Ltd: Chairman of the Board, October 2009-present; Non-executive Director since 2003.[15] Fairfax owns three national daily papers in Australia, including the Sydney Morning Herald and the Age, as well as the Financial Review and a number of radio stations.[16]
  • Mayne Pharma Group Ltd.: Chairman of the Board, January 2011-present[17]
    • Mayne Pharma owned by Hospira, Inc. from February 2007 to November 2009, when Halcygen Pharmaceuticals bought the company. Halcygen then changed its name to Mayne Pharma in November 2010.[18]
  • Bengerang Limited (formerly PrimeAg Australia), Board Member, October 2007–present[19]
  • Reserve Bank of Australia: Board member, December 2005-present
    • Term ends December 2015[20]

 Community connections

  • Salvation Army (Australia): Chairman of the Advisory Board[21]
  • Sydney Children’s Hospital Network: Advisory Board Chairman[22]
  • Aboriginal Task Force, federal government: member or former member (?)[23]
  • Australian Graduate School of Management, University of New South Wales: Advisory Committee member[24]
  • Sydney Medical School Foundation, University of Sydney: President[25]
  • The Shore School: Former Chairman of the Council.[26] The Shore School (Sydney Church of England Grammar School) is a private school day and boarding school for boys in Australia.[27]

Corbett is an Officer of the Order of Australia.[28]

He schedules speaking engagements from the agency Saxon Speakers (in Australia).[29]


[1] “Chief concerns.” The Sun Herald. By Steve Dow. June 11, 2006.

[2] http://retailindustry.about.com/od/largestaustraliaretailers/a/2011-australian-largest-retail-comapnies-chains-stores-industry-supermarkets.htm

[4] http://www.sec.gov/Archives/edgar/data/104169/000130817914000196/lwmt2014_def14a.htm

[5] Based on reported ownership of 15,165 shares as of April 23, 2014 (http://www.sec.gov/Archives/edgar/data/104169/000130817914000196/lwmt2014_def14a.htm) and WMT’s adjusted closing price of $86.31 per share on January 6, 2015 (http://finance.yahoo.com/q/hp?s=WMT+Historical+Prices)

[7] “Woolies’ safe bet is comfort food for the market.” The Age. By Stephen McMahon. May 25, 2006.

[13] “Woolies’ safe bet is comfort food for the market.” The Age. By Stephen McMahon. May 25, 2006.

[14] “Bigger threat than lockouts; Woolworths targets $100 million in cost savings each year for Progressive.” The National Business Review (New Zealand). Ben Thomas. October 13, 2006.

[19] http://investing.businessweek.com/research/stocks/private/board.asp?privcapId=39148033

[22] http://www.saxton.com.au/client_introduction/Roger_Corbett_3519.html

[24] http://www.saxton.com.au/default.asp?sd8=3519

[25] http://www.saxton.com.au/default.asp?sd8=3519

[26] http://www.saxton.com.au/default.asp?sd8=3519

[29] http://www.saxton.com.au/roger-corbett/