Private hospital operator Ramsay Health Care names Woolworths supermarket boss Natalie Davis as new CEO

Australia’s largest private hospital operator Ramsay Health Care has lured in Woolworths supermarket boss Natalie Davis to succeed its long-serving chief executive Craig McNally.

Mr McNally — who joined Ramsay in 1988 and became chief executive in 2017 — will retire at the end of June 2025, but Ms Davis will commence as CEO-elect on October 1 to ensure an orderly transition.

As managing director of Woolworths supermarkets for the past four years, Ms Davis has led a team of 130,000 across 1000 locations and delivered increased market share, sales, productivity and team engagement.

She was seen as a potential candidate to replace outgoing Woolworths chief executive Brad Banducci after announcing his shock exit in February but the role ultimately went to Amanda Bardwell, managing director of the supermarket’s food ecommerce division, WooliesX

Ms Davis has been with the supermarket giant since June 2015 after a 15-year stint as a consultant with McKinsey & Co, and will continue in her role at Woolworths until the end of September while a search for her successor gets underway.

Mr Banducci — who also leaves the retailer in September — said Ms Davis had played a key role in the transformation of Woolworths.

“For the last four years as managing director, Woolworths supermarkets, Natalie has been a very purposeful leader and championed a number of initiatives that are key to our future but her single biggest achievement has been the immense care she has shown for our team,” he said.

“We want to thank Natalie for her commitment to our customers, team and the communities we serve and helping make us better together. We wish her every success in her new role.”

Ramsay chair David Thodey said the board had unanimously agreed that Ms Davis was the ideal candidate for the role at a pivotal time for the $10.7 billion listed company and the healthcare sector.

“In carefully weighing Ramsay’s performance and strategy, the board made a conscious decision to select a proven and dynamic leader who has successfully mastered large-scale business transformation during periods of uncertainty and market disruption,” he said.

“Natalie’s strategic outlook and experience managing industry-wide changes in different markets makes her exceptionally well-suited to progress Ramsay’s strategy and skilfully accelerate our growth.

“Her data-driven understanding of customer needs, coupled with a focus on digital innovation and operational excellence, has resulted in a clear record of success.”

Mr McNally will remain with the company and as chair of Ramsay’s European business, Santé, until the end of June 2025.

“So many extraordinary people have poured their heart and expertise into making Ramsay what it is today and it has been an incredible privilege to work alongside them,” Mr McNally said.

“I am proud of our achievements which have established Ramsay as a market leader with a reputation for excellence in numerous countries.”

Ms Davis will be paid $1.8 million a year, plus a short-term incentive target of 100 per cent of her fixed remuneration and a long-term annual grant of up to 150 per cent of her pay in performance rights.

Ramsay shares are down 1.9 per cent to $46.08, and Woolworths shares down 0.7 per cent to $34.205 at 9.30am on Tuesday.