Wesfarmers has elevated Kmart chief financial officer Aleksandra Spaseska to run the discount store, appointing the division’s current chief executive Ian Bailey to the chairmanship of its fast-growing Anko Global empire.

While Ms Spaseska becomes the Perth-headquartered conglomerate’s youngest divisional boss at 41, the elevation of Mr Bailey underlines the growing importance of the Anko own-brand business to the broader group.