Coles bolsters management team

ColesColes is strengthening its management team ahead of the impending demerger from Wesfarmers, reports the SMH.

Daniella Periera has been named as the company secretary, while Shane Healey will join as treasurer.

Periera has come from Incitec Pivot, where she held the position of company secretary since 2013, previously general manager of corporate governance and compliance.

Prior to his new role at Coles, Healey held a position at Orora as group treasurer and head of investor relations, previously working in senior positions at Amcor and GM Holden.

A Coles spokesperson confirmed the changes, but declined to comment further.

Parent company Wesfarmers detailed the upcoming demerger last week, confirming it would retain a 15 per cent minority ownership interest in the supermarket in order to retain strategic alignment.

The demerger is expected to be completed in November 2018, subject to shareholder and other approvals.

Wesfarmers managing director Rob Scott said the demerger would set up both Wesfarmers and Coles for success.

“Post-demerger, Wesfarmers will have a portfolio of cash generative businesses, with strong returns on capital, good momentum and leading positions in their respective markets,” said Scott.

“Maintaining a strategic stake in Coles provides an important connection with Wesfarmers to reinforce opportunities to collaborate in the data, digital and loyalty areas. Flybuys will be better able to realise its potential as a leading data and loyalty company through the ongoing support and investment of both Coles and Wesfarmers and by leveraging the broader networks of the Wesfarmers Group, including the existing partnerships with Kmart and Target.”

Access exclusive analysis, locked news and reports with Inside Retail Weekly. Subscribe today and get our premium print publication delivered to your door every week.

Comments

1 comment

  1. Bec posted on November 8, 2018

    Iv recently went to Coles in Narrabri will not go back there due to the staff they were very rude . I now shop at Woolworths. Even though it’s a bit dearer .

Comment Manually

Inside Retail Polls

How are your Christmas sales shaping up compared to 2018?
Vote

Twitter

Discover the 20 Coolest Retailers in Australia. Get the free report: https://t.co/uyCZcBFGQH #retailnews #retailhttps://t.co/1qLrw1eGjn

2 weeks ago

We reveal the freshest changemakers, disruptors and trendsetters in the latest issue, grab a copy today:… https://t.co/zB6tefVJJk

3 weeks ago

Have you heard of Toymate? What was once a small family business has become a rapidly expanding retail chain fillin… https://t.co/kRMzUfZ7zn

3 weeks ago