Wesfarmers and Woolies among Australia’s most respected companies
The owners of Australia’s two largest supermarkets are among the most respected by their peers, according to new research.
Woolworths and Wesfarmers, the owner of Coles, placed second and third respectively on the BRW Most Respected Companies list. They were edged out by BHP Billiton, however, whose succession planning and sound fiscal management were lauded.
The list is unlike many others as it is chosen by senior management of large companies rather than consumers.
“They have won admiration from Australian CEO’s for the discipline of their leadership, strategy and vision, and ability to perform in both good and bad times,” BRW advised in a statement, adding that lessons from their strategies were important given the trying economic conditions that prevailed over the past year.