03/05/2016 - 12:34

Wesfarmers' resources boss to resign

03/05/2016 - 12:34

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Wesfarmers’ resources division managing director Stewart Butel has decided to step down after 10 years in the role.

Wesfarmers’ resources division managing director Stewart Butel has decided to step down after 10 years in the role.

Mr Butel has announced his plans to retire at the end of July after spending 16 years with the company.

Wesfarmers Curragh general manager Craig McCabe has been appointed to the new role of chief operating officer of Wesfarmers Resources, starting June 1.

He will report to Rob Scott, who is managing director of Wesfarmers’ industrials division.

Mr McCabe has been general manager of the Curragh coal mine in Queensland since 2012.

Wesfarmers managing director Richard Goyder said Mr Butel had made a huge contribution to the growth of the group and its resources business since joining the conglomerate in 2000 after the company acquired the Curragh mine.

He was appointed managing director of Wesfarmers Premier Coal in 2002 and director coal operations for Wesfarmers Energy in 2005.

“Notwithstanding the more recent challenges in the coal sector, the Curragh acquisition and expansion through Curragh North have been outstanding investments for our shareholders,” Mr Goyder said.

"The strong cash generation from Curragh, under Stewart's leadership, significantly contributed to our ability to finance the purchase of the Coles Group in 2007.

"As conditions have become tougher for coal, Stewart and his team have implemented a major cost control and productivity program which has ensured both Curragh and Bengalla remain world-scale, low-cost mines with long mine lives."

Wesfarmers shares were 0.6 per cent lower to $42.70 each at 12:30pm.

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