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Wesfarmers managing director to step down

Image L-R: Richard Goyder, managing director, Rob Scott, deputy CEO, Michael Chaney, chairman

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Wesfarmers has announced its managing director, Richard Goyder, will step down from his role this year after more than 12 years in the job.

Goyder will be succeeded by Rob Scott, the current head of Wesfarmers’ Industrials division. Scott will maintain this role until 1 July, 2017 and becomes the Group’s deputy chief executive officer effective immediately.

Scott will join the board as managing director at the conclusion of the 2017 annual general meeting in November.

Wesfarmers chairman Michael Chaney said Scott had shown himself to be an outstanding executive, including in key senior roles across the Wesfarmers group.

Scott’s involvement with Wesfarmers dates back to 1993, when he joined the business in Perth before moving into investment banking.

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He re-joined the company in business development in 2004 and was appointed managing director of the Wesfarmers Insurance Division in 2007 and then finance director of Coles in February 2013. A stint as managing director financial services followed in October 2014, before he entered his current role in August 2015.

Chaney said Scott’s appointment continues Wesfarmers’ tradition of appointing its chief executives from within the Group.

“Rob has a proven capability to deliver improved business performance and to lead change through building great teams around him,” he said.

“Importantly, he is deeply grounded in Wesfarmers’ culture and disciplined focus on sustainable shareholder returns.”

Scott, who will return from Sydney to his hometown of Perth to take up the position, said he looked forward to building on the achievements of his predecessors.

“The Wesfarmers approach to business is ingrained in me and provides our teams with a platform to innovate and develop world class business,” he said.

“Building high performing teams and maintaining a disciplined approach to capital allocation will be my focus as we position the Group for the future.”

Chaney also paid tribute to Goyder’s leadership as managing director since July 2005, which saw the company’s value increase from $15 billion to around $50 and included to acquisition of the Coles Group in 2007.

“Richard has been an extraordinary leader at Wesfarmers and is a highly respected and admired leader of the Australian business community,” Chaney said.

“His huge contribution to Wesfarmers has been complemented by the time and passion he has given to other roles in the wider community, including as chairman of the B20 in 2014.”

 

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