The chairman of one of Australia's biggest employers is cautious about the speed of the economic recovery given the likelihood that many companies will collapse and consumers will remain subdued in the aftermath of the COVID-19 epidemic.
Michael Chaney, chairman of Wesfarmers, which owns the Bunnings, Target and Kmart chains, said he expected weak consumer sentiment and high unemployment would cast a shadow over the economy for next two to three years.
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Sally Patten edits BOSS, and writes about workplace issues. She was the financial services editor and personal finance editor of the AFR, The Age and the Sydney Morning Herald. She edited business news for The Times of London. Connect with Sally on Twitter. Email Sally at spatten@afr.com
Patrick Durkin is Melbourne bureau chief and BOSS deputy editor. He writes on news, business and leadership. Connect with Patrick on Twitter. Email Patrick at pdurkin@afr.com
