Woolworths’ director of food, liquor and petrol for Australia and New Zealand Greg Foran has quit the company four months after being passed over for the chief executive position.


Mr Foran, who is a veteran of 10-years with the company, was tipped as the favorite to replace outgoing chief executive Michael Luscome after his departure in September.


However, the board announced in April that Grant O’Brien, the current chief operating officer of Australian food and petrol, would take the position.


Speculation that Mr Foran would resign following the decision has been rife, considering that Mr O’Brien had been reporting to Mr Foran before the decision was made.  


"Over the past two years, Greg has managed our largest division through a period of significant change and helped deliver value and an improved offer to our customers and positioned us well for future growth," Mr O’Brien told The Australian.