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FREDERICK E. HENNIG RETIRES FROM WOOLWORTH CORPORATION

NEW YORK, March 13 /PRNewswire/ -- Woolworth Corporation (NYSE: Z) announced that Frederick E. Hennig, President and Chief Operating Officer, will be retiring as of April 1, 1995.

Hennig had agreed to defer his retirement, originally contemplated for around the end of 1994, in order to assist Roger N. Farah, named Chairman of the Board and Chief Executive Officer this past December, in assuming his new leadership role.

Farah said, "Fred's dedication and hard work are the hallmark of an extraordinary 46-year career that has been replete with accomplishments. On a more personal note, I am grateful for Fred's generous help in guiding me through these first few months at Woolworth Corporation and making my transition with the company as smooth as possible."

"I am very appreciative of all the opportunities that this company has provided to me throughout my career. Now, I'm looking forward to enjoying all of the opportunities that retirement presents," said Hennig.

Hennig began his career with the company in 1949 as a store- management trainee at its Canadian subsidiary, then known as F.W. Woolworth Co. Limited. During the next 34 years, he held various operational positions with that organization, culminating with his election, in 1983, as Executive Vice President of Canadian Corporate Operations. In 1984, Hennig moved to the parent company in New York as Senior Vice President - Worldwide General Merchandise Operations. He was named President and Chief Operating Officer of the parent company in 1987.

Hennig is continuing to serve as a member of the Board of Directors of Woolworth Corporation.
 -0- 3/13/95


/CONTACT: Frances E. Trachter of Woolworth Corporation, 212-553-2394/

(Z)

CO: Woolworth Corporation ST: New York IN: REA SU: PER

PS -- NY054 -- 6026 03/13/95 11:17 EST
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Publication:PR Newswire
Date:Mar 13, 1995
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