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Wesfarmers finalises Coles board appointments

Coles WesfarmersWesfarmers has proposed the appointment of three non-executive directors, to complete the new board of Coles.

Abi Cleland, a former ANZ and Amcor executive, Wendy Stops, a former Commonwealth Bank and Accenture executive, along with Zlatko Todorcevski, chairman of Adelaide Brighton, will be appointed non-executive directors if shareholders approve the demerger in November.

They will join the four previously announced non-executive directors along with Steven Cain who takes up the managing director role in September.

Wesfarmers chairman Michael Chaney is confident that Coles will be lead by an exceptional board with complementary and diverse skills. He said that their vast experience is necessary for Coles to compete as a independently listed company in a dynamic environment.

“Abi Cleland brings extensive global experience in strategy, business, growth and logistics, Wendy Stops is a highly credentialed director with a global career in technology consulting and Zlatko Todorcevski has deep financial expertise and diverse global executive experience including in the logistics and manufacturing sectors,” Chaney said.

“The shareholders of Coles will have an outstanding team of directors to oversee their company and guide and support Coles’ senior management,” he added.

Earlier this year, Wesfarmers announced the first proposed non-executive directors to the Coles Board. James Graham was announced as Chairman-elect, with David Cheesewright, Jacqueline Chow and Richard Freudenstein named as the other proposed non-executive directors.

James Graham welcomed the latest appointments and acknowledged the completion of the board as an important milestone towards becoming an independently listed company.

“This is a board that brings together an ideal mix of relevant and leading marketplace experience; with backgrounds including international retail and fast moving consumers goods, digital trends and technology, corporate finance and strategy, supply chains and logistics, it provides a board of calibre and contemporary skills required for the dynamic Coles business environment,” Graham said.

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