Rob Scott tipped to lead as Wesfarmers succession takes shape

Goyder’s likely replacement at Wesfarmers was once seen as a long shot but is now viewed as a safe pair of hands.

Rob Scott at a Coles supermarket in Melbourne.

Wesfarmers is expected to name Rob Scott as Richard Goyder’s heir apparent at its results briefing on February 15 with Goyder expected to stay in the top job for the remainder of the year.

It is expected Scott, who presently runs the industrial division and resources (affectionately known as Rob Scott’s dogs), will be named as deputy managing director.

Goyder is now in his 12th year as boss, having first been appointed as deputy managing director to then boss Michael Chaney in May 2004 and assuming the top job in July 2005.

Finance director Terry Bowen is the other person in the running for the top job and, assuming Scott gets the top job, he is expected to stay within the company for at least some time.

He is keen to have a role in operations, having been finance director since May 2009.

Much will depend on relations between Scott and Bowen because the highly regarded Bowen would be keen to have some influence over proceedings.

Another highly fancied candidate, Bunning’s boss John Gillam, stepped down from his role late last year and is now serving as a consultant to the company.

Given Bowen already sits on the board, if, as assumed, Scott gets the deputy job there will be three executives on the board.

Goyder will be free to take on the AFL chair once his deputy is appointed.

The company earlier this month underlined its desire to sell its coal operations after disclosing earnings this half would be around $140 million compared to the last estimate as break even.

This time last year, Scott’s ascension to the top job was a long shot and he is considered a safe pair of hands rather than a revolutionary.

This column first reported his likely appointment in early December last year when Gillam quit.

A dual Olympic rower, he first joined the company in Perth in 1993 before leaving to work as a consultant for the company’s long time auditor E&Y and then Deutsche Bank in Hong Kong from 1997 to 2004.

He rejoined Wesfarmers and has served in a variety of roles including finance director at Coles and head of insurance.

Wesfarmers is clearly keen on finding a buyer for its coal division sometime this year, which will reduce Scott’s present base to chemicals and industrial and safety.

Chairman Michael Chaney is keen to maintain the conglomerate structure of the company but, given the dominance of retail assets, this will be a test for Scott in his new role.