Wesfarmers announced yesterday that Richard Goyder will be stepping down as managing director and handing the reins over to Rob Scott.
After 12 years in this role, Goyder admits to being a bit sad about the timing of his departure, stating that the one thing he would have a degree of regret about is that he would love to be at the helm of Wesfarmers as the Bunnings UK model goes from strength to strength and delivers what they are expected to deliver from that investment.
Since Goyder’s employment in 2005 the conglomerate’s value has increased from $15 billion to around $50 billion – including the major acquisition of Coles Group in 2007.
Scott becomes the group’s deputy CEO effective immediately and will assume the MD role after Wesfarmers’ AGM in November, while continuing to head up the company’s Industrials division till July of this year.
According to Wesfarmers chairman Michael Chaney, Rob Scott had shown himself to be an outstanding executive, including in key senior roles across the company where he had demonstrated his leadership and commercial capability. This played a vital part in what determined his takeover of Goyder’s role. Mr Scott will become only their eighth managing director and chief executive in 103 years.
Mr Scott said it was an honour, privilege and great responsibility to be appointed the next managing director of Wesfarmers and he looked forward to building on the achievements of his predecessors.