Thursday, May 30, 2024

Wesfarmers to restructure

The parent company of Coles will undergo organisational restructuring and senior executive changes aimed at streamlining the group’s management and better positioning it for future growth.

Wesfarmers’ non-retail businesses – Chemicals, Energy and Fertilisers, Resources, and Industrial and Safety – will be clustered under a new Industrials division led by Wesfarmers Financial Services Managing Director Rob Scott.

Mr Scott’s responsibilities for financial services will transition to Coles Digital Director Roger Sniezek. Wesfarmers’ other retail divisions – Home Improvement and Office Supplies, Kmart, and Target – are not affected by the changes.

Wesfarmers Managing Director Richard Goyder said the changes would streamline the group’s reporting and decision-making structure.

“This is the next step in the evolution of the Wesfarmers businesses,” he said. “It will enhance sharing of knowledge and ideas between naturally clustered business units, reinforce our performance and development culture and better position the group for growth.”

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