Wesfarmers announces three senior executive appointments

Perth, Australia, 2017-May-31 — /EPR Retail News/ — Wesfarmers today (29 May 2017) announced three senior executive appointments as part of the Group’s leadership transition next financial year.

Wesfarmers Deputy Chief Executive Officer and incoming Managing Director Rob Scott said he was pleased to be able to confirm the important leadership roles in advance of succeeding Richard Goyder as Managing Director in November 2017.At a Group level, Anthony Gianotti will be the next Wesfarmers Chief Financial Officer, succeeding Finance Director Terry Bowen, who will step down later this year after nearly nine years in the role and 12 years on the Wesfarmers leadership team.Mr Gianotti will become the Group’s Deputy CFO, effective 1 July 2017. He is currently Deputy Managing Director and Finance Director of the Wesfarmers Industrials division.

Mr Scott said Mr Gianotti had shown himself to be an outstanding executive in key senior roles across the Group, including as Finance Director and Managing Director of the Insurance division before its divestment in 2015. In August 2015, Mr Gianotti was appointed Finance Director of the new Wesfarmers Industrials division, which brought together the Group’s three industrial businesses: Resources; Chemicals, Energy and Fertilisers; and Industrial and Safety.

“Anthony will bring extensive experience in senior financial and commercial roles across the Wesfarmers Group, is deeply invested in Wesfarmers’ values and focus on sustainable shareholder returns, and has consistently demonstrated outstanding leadership in business improvement,” Mr Scott said.

Mr Goyder and Mr Scott paid tribute to Mr Bowen’s contribution to Wesfarmers over more than 20 years with the Group, including as Finance Director of Landmark, Managing Director of Wesfarmers Industrial and Safety, and Finance Director of Coles in the period immediately after it was acquired by Wesfarmers in 2007.

“Terry has been pivotal to Wesfarmers’ growth and success over the past two decades, and is a trusted and brilliant colleague who is rightly considered to be one of the most outstanding senior executives in this country,” Mr Goyder said.

Mr Bowen said it had been an honour and a privilege to be part of the Wesfarmers Board and executive team and to work closely with so many talented people over the years.

“We’ve nurtured great depth of talent in the Group and our balance sheet is in great shape, which positions the Group well for the future,” Mr Bowen said. “I look forward to working with Anthony on a smooth transition in the coming months before pursuing new opportunities outside Wesfarmers.”

Industrials

Wesfarmers also announced that David Baxby has been appointed Managing Director of the Industrials division, effective August 2017, succeeding Mr Scott. Mr Baxby is a former President and Chief Executive Officer of international shopping transaction processing business Global Blue and a former Co-Chief Executive Officer of the Virgin Group Ltd, the holding company of Sir Richard Branson.

Mr Scott said he was delighted to welcome Mr Baxby to the Group Executive Leadership Team and looked forward to working with him to further develop and grow Wesfarmers’ non-retail businesses.

“David brings a wealth of international experience across a range of industry sectors that strengthens our Group leadership team,” Mr Scott said. “His strong commercial expertise and track record in business development will further support the performance and growth of our Industrials portfolio.”

Bunnings

Rounding out the executive changes, Michael Schneider, currently Managing Director Bunnings Australia and New Zealand (BANZ), has been promoted to Managing Director, Bunnings Group, replacing John Gillam who stepped down from the role in December 2016. Mr Schneider will retain responsibility for BANZ.

Bunnings United Kingdom and Ireland (BUKI) Managing Director Peter Davis will now report to Mr Schneider, and Mr Scott will chair the BUKI Steering Committee. Mr Gillam continues to support the Bunnings business in an advisory role including as Chairman of the Bunnings Group Council.

Anthony Gianotti

Anthony was appointed Deputy Managing Director of the Wesfarmers Industrials division on 14 February 2017, while continuing as Finance Director of the division, a role he has held since August 2015.

Anthony started with Wesfarmers in January 2004 as a Business Development Manager and in 2005 was appointed Manager, Investor Relations and Corporate Planning. He was appointed General Manager of Strategy and Business Development of Wesfarmers Insurance in December 2006, and became Finance Director of that division and an Executive Director of a number of subsidiary boards in April 2009. Anthony was appointed Managing Director of Wesfarmers Insurance in July 2013.

Before joining Wesfarmers, he held senior corporate finance roles with SG Hambros Bank in Sydney and London after starting his career at Ernst & Young.

Anthony holds a Bachelor of Business from Curtin University, a Graduate Diploma in Applied Finance and Investment from Finsia and is an Associate Member of the Institute of Chartered Accountants in Australia. He completed the Harvard Business School Advanced Management Program in 2014.

David Baxby

David Baxby has been a Non-executive Director of Virgin Australia since 30 September 2004, is Chairman of Frontier Digital Ventures Limited and a Non-executive Director of Unlockd Limited, WorkPac Limited and Velocity Frequent Flyer and its subsidiaries. David is also a Councillor of Bond University.

Previously, David was the Global Chief Executive Officer and President of Global Blue and the Co-Chief Executive Officer of the Virgin Group Ltd, Sir Richard Branson’s holding company. His past Directorships include Virgin Atlantic, Virgin Money Australia, Virgin Mobile Australia, Virgin Holidays Ltd, Virgin America Inc and Air Asia X. David was also an investment banker for nine years with Goldman Sachs. David holds a Bachelor of Commerce and Laws from Bond University.

Mike Schneider

Mike Schneider was appointed Managing Director Bunnings Australia and New Zealand in January 2016, following the announcement of Bunnings’ acquisition of the Homebase business in the United Kingdom and Ireland.

Mike has been with Bunnings for more than 10 years in a range of senior operational roles, including as Director of Store Operations. Before joining Bunnings, he worked at senior levels in the retail and financial services sector. Mike holds a Bachelor of Arts degree from the University of NSW and has completed the Advanced Management Program at INSEAD, and the Advanced Strategic Management Program at IMD.

For further information:
Media Investors
Cathy Bolt
Media and External Affairs Manager
+61 8 9327 4423 or +61 417 813 804
cbolt@wesfarmers.com.au

Aleksandra Spaseska
General Manager
Investor Relations
+61 8 9327 4416 or +61 488 911 678
aspaseska@wesfarmers.com.au

Source: Wesfarmers Market

Wesfarmers achieves highest result for an Australian company in food and staples sector in 2016 Dow Jones Sustainability Index

Perth, Australia, 2016-Dec-12 — /EPR Retail News/ — Wesfarmers has achieved its highest score in the recently released 2016 Dow Jones Sustainability Index – 82 out of 100, a jump of 11 percentage points on the previous year. This is the highest result for an Australian company in the food and staples sector and two points off the global leader, Metro AG of Germany.

Launched in 1999, the DJSI is a respected benchmark for corporate sustainability. It is the first global index to track the leading sustainability-driven companies based on analysis of financially relevant environmental, social, and governance factors. The world’s largest 3,400 companies from developed and emerging markets are invited to take part in the annual assessment.

Wesfarmers was ranked among the top four companies in the world in the food and staples retailing sector which form part of the DJSI World Index. It also took out the single place that is available in the DJSI Australia index for a food and staples retailer.

This assessment recognises Wesfarmers as a global leader in sustainability, with our strongest performances in:

Economic dimension

  • Health and nutrition (98/100)
  • Information security and cybersecurity (97/100)
  • Risk and crisis management (89/100)
  • Customer relationship management (88/100)
  • Supply chain management (86/100)

Environmental dimension

  • Environmental policy and management systems (100/100)
  • Operational eco-efficiency (91/100)
  • Environment reporting (89/100)

Social dimension

  • Labour practice indicators and human rights (90/100)
  • Corporate citizenship and philanthropy (89/100)

The result reflects particularly on Coles because a significant amount of the assessment directly related to that business.

Wesfarmers Managing Director Richard Goyder said the record score was recognition for improvements that had been made.

“Over the past several years, we’ve made a number of changes to the way we manage and disclose our environmental, social and governance performance,” Mr Goyder said. “For us, sustainability is about understanding and managing the ways we impact the community and the environment, to ensure that we will be creating value in the future.”

For more information about the Dow Jones Sustainability Index, please visit http://www.djindexes.com/sustainability/

Contact:

Tel:  (61 8) 9327 4211
Fax:  (61 8) 9327 4216
email: info@wesfarmers.com.au

Source: Wesfarmers

Wesfarmers with 82 out of 100 score in 2016 Dow Jones Sustainability Index

Perth, Australia, 2016-Sep-13 — /EPR Retail News/ — Wesfarmers has achieved its highest score in the recently released 2016 Dow Jones Sustainability Index – 82 out of 100, a jump of 11 percentage points on the previous year. This is the highest result for an Australian company in the food and staples sector and two points off the global leader, Metro AG of Germany.

Launched in 1999, the DJSI is a respected benchmark for corporate sustainability. It is the first global index to track the leading sustainability-driven companies based on analysis of financially relevant environmental, social, and governance factors. The world’s largest 3,400 companies from developed and emerging markets are invited to take part in the annual assessment.

Wesfarmers was ranked among the top four companies in the world in the food and staples retailing sector which form part of the DJSI World Index. It also took out the single place that is available in the DJSI Australia index for a food and staples retailer.

This assessment recognises Wesfarmers as a global leader in sustainability, with our strongest performances in:

Economic dimension

  • Health and nutrition (98/100)
  • Information security and cybersecurity (97/100)
  • Risk and crisis management (89/100)
  • Customer relationship management (88/100)
  • Supply chain management (86/100)

Environmental dimension

  • Environmental policy and management systems (100/100)
  • Operational eco-efficiency (91/100)
  • Environment reporting (89/100)

Social dimension

  • Labour practice indicators and human rights (90/100)
  • Corporate citizenship and philanthropy (89/100)

The result reflects particularly on Coles because a significant amount of the assessment directly related to that business.

Wesfarmers Managing Director Richard Goyder said the record score was recognition for improvements that had been made.

“Over the past several years, we’ve made a number of changes to the way we manage and disclose our environmental, social and governance performance,” Mr Goyder said. “For us, sustainability is about understanding and managing the ways we impact the community and the environment, to ensure that we will be creating value in the future.”

For more information about the Dow Jones Sustainability Index, please visit http://www.djindexes.com/sustainability/

Contact:

Tel:  (61 8) 9327 4211
Fax:  (61 8) 9327 4216
To contact us, please email us at info@wesfarmers.com.au

Source: Wesfarmers

Wesfarmers announces the retirement of Wesfarmers Resources Managing Director Stewart Butel

Perth, Australia, 2016-May-04 — /EPR Retail News/ — Wesfarmers today announced the forthcoming retirement of Stewart Butel, Managing Director of Wesfarmers Resources since 2006.

Mr Butel will retire at the end of July, supporting a smooth leadership transition in the Resources business, which includes Wesfarmers Curragh and Wesfarmers’ 40 per cent interest in the Bengalla coal mine.

Wesfarmers Managing Director Richard Goyder said Mr Butel had made a huge contribution to the growth of the Resources business and the wider Group since joining Wesfarmers in 2000, following the acquisition of the Curragh mine in Queensland. He was appointed Managing Director of Wesfarmers Premier Coal in 2002 and Director Coal Operations for Wesfarmers Energy in 2005.

“Notwithstanding the more recent challenges in the coal sector, the Curragh acquisition and expansion through Curragh North have been outstanding investments for our shareholders,” Mr Goyder said.

“The strong cash generation from Curragh, under Stewart’s leadership, significantly contributed to our ability to finance the purchase of the Coles Group in 2007. As conditions have become tougher for coal, Stewart and his team have implemented a major cost control and productivity program which has ensured both Curragh and Bengalla remain world-scale, low-cost mines with long mine lives.”

Craig McCabe, currently General Manager of Wesfarmers Curragh, has been appointed to the new role of Chief Operating Officer at Wesfarmers Resources, effective 1 June 2016. He will report to Rob Scott, Managing Director of the Wesfarmers Industrials division.

Mr McCabe has been General Manager of Curragh since 2012 and has more than 15 years’ experience at Curragh in a variety of roles.

He holds a Bachelor of Engineering (Mining), a Bachelor of Science (Geoscience) and a Graduate Certificate in Business Administration.

“Importantly for the sustainability of our coal operations, Stewart and Craig have also driven significant improvements in safety performance and been champions of greater participation by women, including indigenous women, in the resources industry,” Mr Goyder said.

For more information:
Media
Cathy Bolt
Media and External Affairs Manager
+61 8 9327 4423 or +61 417 813 804
cbolt@wesfarmers.com.au

Investors
Deanie Alston/ Wen Khong
Investor Relations
+61 8 9327 4450
irelations@wesfarmers.com.au

Wesfarmers Managing Director Richard Goyder on Homebase acquisition: long-term value creation opportunity for Bunnings

Acquisition overview

  • Acquisition of 100 per cent of Home Retail Group plc’s (Home Retail Group) holding in Homebase for £340 million (A$705 million)¹
  • Unanimously supported by the Board of Home Retail Group
  • Expected to complete in the first quarter of calendar year 2016, subject to approval by Home Retail Group shareholders and its banking syndicate

Acquisition rationale

  • £38 billion UK home improvement and garden market is an attractive and growing market
  • Homebase delivers an established and scalable platform with stores that are the right size for the UK market and support warehouse merchandising and a low cost operating model
  • Acquisition is the first step in a program which will invest in the Homebase team and reinvigorate core Homebase assets to build an exciting new Bunnings-branded business over three to five
    years
  • Ability to improve existing Homebase performance in the short-term through operational
    improvement

PERTH, AUSTRALIA, 2016-Jan-25 — /EPR Retail News/ — Wesfarmers Limited (ASX: WES) has entered into an agreement to acquire Homebase from Home Retail Group (LSE: HOME) for £340 million (A$705 million)¹. This follows the announcement on 14 January 2016 confirming that a conditional offer had been made to acquire Homebase. Homebase is the second largest home improvement and garden retailer in the United Kingdom (UK) and Ireland. Homebase reported revenue of £1,461.2 million for the 12 months ended 29 August 2015 and currently has 265 stores.

Wesfarmers Managing Director Richard Goyder said the acquisition of Homebase provides a long-term value creation opportunity for Bunnings which will complement the strong growth trajectory of the Australian and New Zealand business.

“Bunnings is well placed to unlock value from the Homebase business and has a proven track record in delivering growth both organically and through acquisition,” Mr Goyder said. “Our offer provides significant execution certainty and an attractive cash consideration to Home Retail Group shareholders.

“The £38 billion UK home improvement and garden market is a large and growing market with strong fundamentals. The opportunity to enter this attractive market through the acquisition of Homebase has been comprehensively researched and carefully considered by Wesfarmers and Bunnings. The Bunnings team has done a lot of work to make sure it understands the market and the opportunity, including having visited hundreds of stores, spending significant time researching the market and closely studying international retail expansions into the UK and other markets. Detailed due diligence has been completed and implementation and improvement planning is well advanced.”

Due to early transformation activity, the acquisition is expected initially to have an immaterial effect on Wesfarmers’ earnings per share and return on equity. From the third year post acquisition, the acquisition is projected to be progressively accretive reflecting long-term growth prospects.

Bunnings Managing Director John Gillam said the acquisition represents a compelling opportunity to enter the attractive UK home improvement and garden market.

“Homebase has an established and scalable store platform with strong representation in high density areas,” Mr Gillam said. “The stores are well-sized for the UK market and support warehouse merchandising and a low cost operating model.

“The acquisition is the first step in building a further growth platform for Bunnings with additional planned investment of approximately £500 million (A$1,037 million)¹ in the Homebase team and assets to build a new Bunnings-branded business over three to five years. We will combine essential local elements with the best of Bunnings to bring customers in the UK and Ireland an exciting new home improvement and gardenoffer.”

Management structure
Following completion, a new management structure will be put in place at Bunnings to drive continued strong performance in the existing operations and effectively implement the Homebase acquisition plans.

John Gillam will be Chief Executive Officer of Bunnings, with management teams established in the two distinct operational regions. Key leadership appointments within the new Bunnings structure include:

Bunnings Australia and New Zealand

  • Mike Schneider, Managing Director (currently Director of Store Operations)
  • Clive Duncan, Chief Operating Officer (currently Director of Merchandising & Store Development)
  • Justin Williams, Chief Financial Officer (currently General Manager Information Technology & Financial Services)

Bunnings UK and Ireland

  • Peter (PJ) Davis, Managing Director (currently Chief Operating Officer)
  • Rodney Boys, Finance Director (currently Chief Financial Officer)

Transaction funding, approval and timetable
The acquisition will be funded by new GBP-denominated debt facilities. Rating agencies Standard & Poor’s and Moody’s Investors Service have been updated on the transaction. Whilst no change is expected to the Group’s existing credit ratings (A- and A3 level respectively), the anticipated short-term impact on credit metrics may result in a change to the Group’s outlook.

The acquisition is subject to approval by Home Retail Group shareholders under the UK Financial Conduct Authority’s Listing Rules for Class 1 transactions. The Board of Home Retail Group has unanimously recommended the transaction to shareholders. Subject to the approval of Home Retail Group shareholders and its banking syndicate, transaction completion is expected by the end of the first quarter of calendar year 2016.

Lazard is acting as Wesfarmers’ financial advisor.

Analyst briefing

An analyst briefing will be held at 7:30am AWST / 10:30am AEDT on Monday 18 January 2016. This briefing will be webcast and accessible via the Wesfarmers website at www.wesfarmers.com.au.

For more information:
Investors
Mark Scatena
General Manager, Investor Relations Media and External Affairs Manager
(+61) 8 9327 4416 or (+61) 439 979 398 (+61) 8 9327 4423 or (+61) 417 813 804
mscatena@wesfarmers.com.au

Media – Wesfarmers
Cathy Bolt
Media and External Affairs Manager
(+61) 8 9327 4423 or (+61) 417 813 804
cbolt@wesfarmers.com.au

UK Media
Philip Gawith
Managing Partner, Teneo Strategy
+44 (0)20 7240 2486
philip.gawith@teneostrategy.com

Media – Bunnings
Kate Inverarity
Partner, Nightingale Communications
(+61) 3 9670 4373 or (+61) 413 163 020
kate@nightingalecommunications.com.au

1 £:A$ of 0.4822 at 15 January 2016 (Reserve Bank of Australia)

Wesfarmers Limited enters into an agreement to acquire a 13.7 per cent interest in Quadrant Energy Holdings Pty Ltd

PERTH, Australia, 2015-6-30 — /EPR Retail News/ — Wesfarmers Limited (Wesfarmers) has entered into an agreement to acquire a 13.7 per cent interest in Quadrant Energy Holdings Pty Ltd (Quadrant Energy).

Brookfield Asset Management Inc and Macquarie Capital (a division of Macquarie Group Limited) announced on 9 April 2015 an agreement to acquire Apache Corporation’s (Apache) domestic oil and gas assets in Western Australia for US$2.1 billion, with each holding an initial 50 per cent interest in Quadrant Energy. This transaction completed on 5 June 2015.

Wesfarmers will invest US$100 million to acquire a 27.4 per cent interest in the special purpose vehicle in which Macquarie Capital holds its interest, representing a 13.7 per cent interest in Quadrant Energy. As part of this investment, Wesfarmers will have a right to appoint a director to the Board of Quadrant Energy.

Wesfarmers Managing Director Richard Goyder said the investment in Quadrant Energy is complementary to Wesfarmers’ Chemicals, Energy and Fertilisers division’s existing businesses and is expected to generate a satisfactory return to shareholders.

Completion of the transaction is expected today.

For more information:

Investors Media
Mark Scatena
General Manager, Investor Relations & Planning
+61 8 9327 4416 or +61 439 979 398
mscatena@wesfarmers.com.au

Cathy Bolt
Media and External Affairs Manager
+61 8 9327 4423 or +61 417 813 804
cbolt@wesfarmers.com.au

About Quadrant Energy
Quadrant Energy’s portfolio of assets includes interests formerly held by Apache in the following projects:

• three operating gas fields – Reindeer, John Brookes, and Halyard-Spar, and in the BHP Billiton-operated Macedon;
• three operating oil fields – Coniston-Novara, Van Gogh and Stag, and in BHP Billiton-operated Pyrenees Area;
• gas processing facilities and associated infrastructure at Devil Creek, Varanus Island and Macedon; and
• upstream acreage in the Carnarvon, Exmouth and Canning Basins.

All of Quadrant Energy’s gas production is supplied to the Western Australian domestic gas market, and currently represents approximately 40 per cent of Western Australia’s domestic gas supply.