Wesfarmers boss Rob Scott says the conglomerate must take measured risks to grow after he was forced to defend a potential $3 billion-plus plunge into electric vehicle commodities with takeover offers in lithium and rare earths.
Mr Scott rejected suggestions that, with its takeover tilts at Kidman Resources and Lynas Corporation, Wesfarmers was in danger of repeating the Bunnings UK hardware blunder. He also flagged making more investments in the electric vehicle sector.
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Brad Thompson writes across business and politics from Western Australia for The Australian Financial Review. Brad is based in our Perth bureau. Connect with Brad on Twitter. Email Brad at brad.thompson@afr.com
