Coles MD Ian McLeod steps up, opening the way for John Durkan

Supermarket giant Coles has had bumper sales and profits. Will new boss John Durkan keep the good times rolling?

John Durkan is to take the top job at Coles from July 1.

THE managing director of supermarket giant Coles will be replaced on July 1.

Ian McLeod is moving to a senior role with parent company Wesfarmers, after six years overseeing the massive growth in the supermarket chain.

The new Coles managing director will be John Durkan, its current chief operating officer.

“Ian's success with the Coles division, which has more than doubled earnings before interest and tax and helped generate significant shareholder value for the Wesfarmers Group, highlights his credentials as a world class retailer and leader,” said Wesfarmers chief executive Richard Goyder.

Mr McLeod will provide “executive oversight on a number of strategic initiatives and internal Wesfarmers programs” in his new role, the company said.

Wesfarmers today reported a net profit of $1.429 billion for the six months to December 31, up from $1.285 billion a year ago.

Coles lifted its earnings nearly 11 per cent to $836 million during the half thanks to growth in customer numbers and basket sizes.

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