Woolworths chief executive Grant O'Brien regrets not moving earlier to bite the bullet and reinvest cost savings and productivity gains into reducing grocery prices. This strategy, dubbed the virtuous double loop by Woolworths' most successful chief executive, Roger Corbett, and his finance director, Bill Wavish, fuelled years of 10 per cent sales growth, 20 per cent-plus profit growth, and superior shareholder returns at the retailer between 2000 and 2009.