Coles has announced that its Chairman, James Graham, will retire from the Board, effective 30 April.
The Board has appointed Peter Allen as Chairman-elect to succeed Mr Graham on 1 May.
Mr Graham was appointed Chairman of Coles in 2018 at the time of its listing on the Australian Securities Exchange, following its demerger from Wesfarmers. He has led the Board since that time during a period marked by two years of Covid-19 lockdowns, the sale of Coles Express to Viva Energy, the purchase of the Jewel Foods ready meals business and the two Saputo milk processing facilities, and substantial capital investment in automation, new technology and store development.
Mr Graham says he’s been very honoured to have been Chairman of this iconic Australian company and to have worked with fellow directors and the management teams under the successive leadership of Steven Cain and Leah Weckert.
“It has been a period of substantial new investment for Coles particularly marked by the construction and operation of new automated distribution centres and the investment in world-leading online groceries retailing technologies,” he says.
“I am delighted that Peter has agreed to succeed me as Chairman of the Board. I am very confident that Coles, under the leadership of our Chief Executive Leah Weckert, will continue its success as it remains customer focused in providing food, groceries and liquor to all Australians, whilst delivering for shareholders.”
Ms Weckert expresses her appreciation to Mr Graham for his many years of dedicated service.
“James’ industry knowledge, experience and deep understanding of the business have been invaluable to me and the rest of the Board,” she says.
“I would like to thank James for his service to the Group and wish him well. I very much look forward to working with Peter.”
About Peter Allen
Mr Allen has been an independent non-executive Director of Coles since 1 September 2024 and has over 30 years’ senior executive experience.
From 2014 to 2022, he was Managing Director and CEO of Scentre Group and, prior to that, was Chief Financial Officer of Westfield Group.
According to a statement, Mr Allen brings a strong commercial perspective with significant engagement in the Australian retail sector. He has deep experience in building stakeholder relationships and driving business success, reads the statement, and places strong emphasis on the customer, company culture and innovation.
Mr Allen says it’s an honour and privilege to succeed Mr Graham as Chair of Coles.
“Under his leadership, the company is well-positioned for the future. James will be remembered for his strategic decision making, active shareholder engagement and focus on operational excellence and capital allocation,” he says.
“As incoming Chair, I am committed to generating long-term value for all our shareholders and will work tirelessly with the Board and management to achieve this. I look forward to continuing to take this great company forward.”