Cole Myer chief to stay in post
John Fletcher to carry on as CEO
Australian retail group Coles Myer has announced that chief executive John Fletcher is to stay in the role after his current contract expires in September next year.
Australia’s biggest retail business said that Fletcher, who has been leading a transformation programme at Coles Myer, has asked to extend his term. After September 2006, he will be on a rolling 12 months’ notice contract.
Coles Myer chairman Rick Allert said: “The board is delighted with Coles Myer’s progress and with John’s leadership of the business. In order to give shareholders some certainty about leadership continuity, we have reached agreement with John now to extend beyond his contract.
‘We are very pleased that John will lead the company beyond the completion of our current five-year strategy and into the next phase of Coles Myer’s development.”
In other management changes Larry Davis, currently managing director of the groups’ Target chain, will take up the position of MD of Kmart, following the appointment of Hani Zayadi to lead the groups’ food, liquor and fuel business.
Fletcher said: “Larry has done an outstanding job in rebuilding Target over the past three years, to the point that it is now Australia’s biggest retailer of women’s apparel. He will also bring to the role 29 years’ experience in retail merchandise and marketing at Kmart US and Sears Roebuck in the United States.”
Launa Inman, currently managing director of Officeworks, will take over as MD of Target, and Joe Barberis, currently MD of Coles Express will become the new MD of Officeworks.
Flecther said: “Launa’s past experience as general manager of apparel and accessories at Target and previous roles with Big W and South African retailer, Pages and Edgars, equip her well for the Target role.
“Joe has considerable leadership experience in fuel and convenience store retailing, both at Shell and within the Coles Myer group. Since his appointment as managing director of our newest business, Coles Express, in July 2003, Joe has demonstrated strong retail leadership skills, which will translate well into the Officeworks brand.” The serach for a new MD for Coles Express is underway.
