Coles managing director renews contract

Posted by AFN Staff Writers on 30th May 2012

Wesfarmers, the publicly listed parent company that owns the Coles supermarket chain, has announced that Coles’ Managing Director Ian McLeod will remain in the role after his current contract expires.

Wesfarmers Managing Director Richard Goyder said Mr McLeod was initially employed on a five-year fixed-term contract to lead the turnaround of Coles after Wesfarmers acquired the company.

Mr Goyder said, “As we are now reaching the final stage of that arrangement, we are pleased that Ian wishes to remain leading Coles beyond that period.

“After June 2013, Ian will move to a new employment contract consistent with other senior executives within the Wesfarmers Group, which includes a six month notice period.”

Ian McLeod joined Coles as Managing Director in May 2008. Prior to this, he was Chief Executive Officer of Halfords, a UK retailer of car parts, leisure and cycling products.

He has previously been on the Board of Wal-Mart Germany as Chief Merchandise Officer and was also Managing Director of Asda’s largest operating division.