Announced as Richard Goyder’s successor in February, Rob Scott officially became Wesfarmers Managing Director following the company’s AGM yesterday (November 16).
Mr Scott said he felt “very humbled and excited” to assume the position, adding that Mr Goyder had set the leadership bar very high.
“It’s a big responsibility to lead a company with 220,000 employees in hundreds of communities around Australia and internationally, over half a million shareholders, many thousands of suppliers, and millions of everyday people who rely on our goods and services,” he said.
“I’d like to thank Richard for his enormous contribution to Wesfarmers over so many years and for the guidance he has given me, especially in this year of transition.”
Mr Scott said his leadership approach would be grounded in Wesfarmers’ corporate values of integrity, accountability, openness and boldness.
“Our business model at Wesfarmers provides us with a competitive advantage that is a great platform for the future,” he said.
“My job as Group Managing Director is to ensure we reinforce the best aspects of our culture and operating model to deliver satisfactory returns to shareholders.”
Mr Scott said Wesfarmers would continue to evolve to meet challenges and seize opportunities over the next decade.
“Three areas that will be increasingly important to Wesfarmers are talent management, accelerating our digital and data capabilities, and being bold and entrepreneurial,” he said.
“Our employees know that when our businesses are competitive and profitable, we can invest more in our businesses, which creates more jobs, more value for all our stakeholders, and strengthens the communities where we all live and work. We will continue to advocate on behalf of our employees and shareholders for policies that support a level playing field and allow us all to prosper.
Mr Scott began his career with Wesfarmers in Perth in 1993 before moving into investment banking with various roles in corporate finance and mergers and acquisitions in Australia and Asia. He rejoined Wesfarmers in 2004 and worked his way through the positions of managing director of Wesfarmers’ insurance division, finance director of Coles, and managing director of financial services before taking up his industrials role. He became the group’s deputy CEO when announced as Mr Goyder’s successor in February.