Wesfarmers chairman to step down

After six years at the helm, Wesfarmers Ltd chairman Trevor Eastwood will retire from the position at the company's annual general meeting in November.

Mr Eastwood said it was an appropriate time for him to retire, as the company proceeds through a significant new era of opportunity.

"Transformation of the group into a truly national enterprise has accelerated, particularly over the past year with the acquisition of the Coles group," Mr Eastwood said.

"As chairman, board member and a former managing director I'm proud to have been involved in these and other major changes that have seen the former co-operative become Australia's biggest private sector employee, with 200,000 employees and more than 470,000 shareholders."

Mr Eastwood started his career at Wesfarmers in 1963.

In a statement, the company said that to ensure a smooth transition Wesfarmers has appointed Mr Every as deputy chairman.

Mr Every has been on the Wesfarmers board since early 2006 and is currently on the board of Boral Ltd.