Coles bolsters management team
Coles 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.”