Macfarlane resigns from Woolies board

Former RBA governor Ian Macfarlane is retiring from the board of Woolworths, eight years after he was appointed a director.

Former Reserve Bank governor Ian Macfarlane (r) is stepping down from the board of Woolworths. (AAP)

Former Reserve Bank governor Ian Macfarlane is stepping down from the board of Woolworths.

The supermarket retailer says Mr Macfarlane, who joined the board in 2007, will retire as a Woolworths director on Tuesday.

Chairman Ralph Waters paid tribute to Mr Macfarlane's contribution to the retailer, saying his expertise in economics had greatly contributed to the board's considerations.