Wesfarmers has announced two leadership changes today, with Officeworks chief executive Mark Ward set to step down at the end of the year, while former New Zealand prime minister Bill English has been appointed to the board of the Perth-based conglomerate.
Perth-based kitchen appliances firm Thermomix has been ordered to pay $4.6 million in penalties after the Federal Court of Australia found that the company misled customers when its products were found to be dangerously faulty.
Former Bunnings managing director John Gillam has been named as the incoming chairman of building products company CSR while Macmahon Holdings has bolstered its board by recruiting former Alcoa executive Kim Horne.
The growing spectre of online shopping has not deterred one of the country’s largest retailers from investing in its bricks-and-mortar assets, with David Jones opening its fifth Western Australian store today as part of the final chapter of Mandurah Forum’s $350 million redevelopment.
Investors have welcomed today's news that Wesfarmers plans to spin-off supermarket giant Coles and create a separately listed business that would rank among the 30 biggest on the Australian stock market.
A number of local mining companies have moved up the stock market rankings, with contractor Ausdrill included in the S&P ASX 200 index, while South32 has been admitted into the top 20 as part of the market’s quarterly rebalance.
Woolworths’ liquor arm has resigned from the Liquor Stores Association of Western Australia, following the association's support for state government plans to restrict the growth of large liquor stores, such as Dan Murphy's and First Choice.
Shares in chocolate retailer Yowie Group dropped 21 per cent today after the company announced sales in the United States so far this quarter have been well down on expectations thanks to growing competition.