Coles MD Ian McLeod to take up new role at Wesfarmers
Australian supermarket Coles has announced that its managing director Ian McLeod has been promoted to the position of group commercial director within parent company Wesfarmers Group.
Taking up his new role on 1 July 2014, the former Halfords chief executive will be succeeded by John Durkan who is currently Coles chief operating officer.
McLeod is widely credited with turning around the fortunes of the Coles chain after joining the company from Halfords in 2008.
Wesfarmers Group managing director Richard Goyder said: “Ian’s success with the Coles Division, which has more than doubled earnings before interest and tax and helped generate significant shareholder value for the Wesfarmers Group, highlights his credentials as a world class retailer and leader.
“By enhancing the customer experience, improving our fresh food offering and on-shelf availability, as well as continued commitment to everyday low prices, the Coles business is unrecognisable from the one we purchased in 2007.”
In his new role, McLeod will work closely with Goyder and the senior team, and provide executive oversight on a number of strategic initiatives and internal Wesfarmers programmes.
Goyder said Durkan was a natural successor as Coles managing director given his strong track record and his key role in the first phase of the Coles turnaround.
He added: “John has proved his enormous value to the group over the past six years and we are fortunate to have an executive of his experience and proven track record ready to step in to this pivotal role.”
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