Tilbrook to step down from Wesfarmers

Wesfarmers finance director Gene Tilbrook has decided to step down from the company after 23 years of service, with Terry Bowen appointed as his replacement.

The diversified company said in a statement that Mr Tilbrook will retire in the first half of 2009.

Mr Tilbrook has been Wesfarmers' Finance Director since 2005, as well as an Executive Director of the Wesfarmers Board since 2002.

Managing director Richard Goyder paid tribute to Mr Tilbrook's contribution to the company at both a commercial and strategic level over many years.

"Gene's contribution, both as Finance Director and as head of Wesfarmers' Business Development, played a major role in a period of significant growth for the company," Mr Goyder said.

Mr Tilbrook said it was a privilege to have served as a senior executive during a period of major development for the company.

"What has made it rewarding is working in a lot of businesses with such good people," he said.

Mr Terry Bowen, who is currently the finance director of the Coles division, will take over from Mr Tilbrook.

Mr Bowen was chief financial officer with Jetstar Airways between 2003 and 2005, having worked with Wesfarmers between 1996 and 2003 in its rural services business.

He rejoined Wesfarmers, heading up its Industrial and Safety division in 2005 before being appointed as Coles' Finance Director in November last year following Wesfarmers' acquisition of Coles.

Mr Bowen's replacement at Coles will be announced in due course.