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 deputy, Rob Scott.
Wesfarmers managing director Richard Goyder will step down this year after more than 12 years in charge of the company, with this morning's announcement confirming months of speculation that he will be replaced by his deputy, Rob Scott.
Mr Scott has become the group’s deputy chief executive and will join the board as managing director at the end of the company’s 2017 AGM in November.
He will maintain his current role as head of Wesfarmers’ Industrials division until July.
Mr Scott is one of several candidates within Wesfarmers that would have been considered well suited to succeed Mr Goyder, with long-serving finance director Terry Bowen and former Bunnings chief executive John Gillam considered top contender.
Wesfarmers chairman Michael Chaney paid tribute to Mr Goyder’s leadership, during which time the company’s value has increased from $15 billion to around $50 billion and which included the transformative acquisition of the Coles Group in 2007.
“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.
He was appointed managing director financial services in October 2014.
In August 2015, Mr Scott was appointed managing director of the new Wesfarmers Industrials division, which brought together the group’s three industrial businesses: Resources; Chemicals, Energy and Fertilisers; and Industrial and Safety.