Wesfarmers chief Goyder to step down

WESFARMERS managing director Richard Goyder will step down this year after more than 12 years in charge of the company.

Wesfarmers boss Richard Goyder will step down later this year. Picture: Richard Wainwright/AAP

WESFARMERS managing director Richard Goyder will step down this year after more than 12 years in charge of the company to be replaced by his new deputy, Rob Scott.

Mr Goyder is retiring and Mr Scott will assume control at the conglomerate’s annual general meeting in November.

The 47-year-old has filled various senior roles at Wesfarmers since joining for a second spell in 2004, including as finance director of supermarket giant Coles, and is being promoted to deputy chief executive with immediate effect in preparation for the top job.

“The Wesfarmers approach to business is ingrained in me and provides our teams with a platform to innovate and develop world class businesses,” Mr Scott said. “Building high-performing teams and maintaining a disciplined approach to capital allocation will be my focus as we position the group for the future.”

Wesfarmers Chairman Michael Chaney said he had a “proven capability to deliver improved business performance and to lead change through building great teams around him”.

“Importantly, he is deeply grounded in Wesfarmers’ culture and disciplined focus on sustainable shareholder returns,” Mr Chaney said.

Rob Scott has been promoted to deputy CEO.

Mr Goyder, 57, joined Wesfarmers in 1993 and became managing director in July 2005. He oversaw the acquisition of the Coles Group in 2007.

“Richard has been an extraordinary leader at Wesfarmers and is a highly respected and admired leader of the Australian business community,” Mr Chaney said. “His huge contribution to Wesfarmers has been complemented by the time and passion he has given to other roles in the wider community, including as Chairman of the B20 in 2014.”

Mr Goyder said his decision to retire at the end of this year had not been easy. “I continue to enjoy the challenges of leading this outstanding and diverse company and appreciate the opportunities it has given me. I look forward to working with Rob on a seamless transition in the months ahead,” he said.