Wesfarmers taps 20-year director to chair spun-off Coles
By Administrator | 24 July 2018
Wesfarmers has tapped investment banker James Graham to become chairman of Coles when the supermarket is cut free from the conglomerate and launches as an independent company later this year.
The group also confirmed on Monday it would retain 15 per cent ownership of Coles, after earlier flagging it would keep up to 20 per cent, and that it expected the demerger to be completed in November, shareholder approval pending.
Mr Graham, who has been a non-executive director of Wesfarmers for the past 20 years, would be a "passionate and committed" chairman of Coles, Wesfarmers chairman Michael Chaney said.
“James’ experience and integrity, coupled with his affinity for the Coles business, and respect and
understanding of the brand and its history, positions him ideally,” Mr Chaney said.
David Cheesewright, who retired earlier this year as president and chief executive of Walmart International, which saw him run the retail bohemoth's 6200 stores outside the US, will join the board as Wesfarmers' nominee.
Jacqueline Chow, a NIB director and former Fonterra chief operating officer, and Richard Freudenstein, an REA Group director and former chairman, will also join the eight-person board. Read more
Patrick Hatch - Brisbane Times - 23 Jul 2018
Comments
Your email address will not be published.
We welcome relevant, respectful comments.