Wesfarmers, one of Australia’s largest companies and owner of the Coles Group, has reiterated their belief that the Coles acquisition will prove a great buy in the long-term. The underperforming Coles business has begun to show signs of life in the past couple of quarters as the new management team drives efficiency improvements. And, while they are not yet where they want to be, the conglomerate is adamant that their five-year plan is right on schedule. “I do want to reaffirm the Board’s... ...Read more »

Trevor Eastwood AM today announced he would be stepping down as Chairman of Wesfarmers Limited at the company’s Annual General Meeting in November 2008. Mr Eastwood took up the role as Chairman of Wesfarmers, one of Australia’s largest companies and owners of Coles Group, in 2002 after joining the Board back in 1994. The company advised that Dr Bob Every, a current Non-Executive Director, will succeed Mr Eastwood on November 13, with Dr Every to take on the position of Deputy Chairman... ...Read more »