Patience required for Coles’ top job

Wesfarmers CEO Richard Goyder made a series of senior executive appointments for Coles only a day after seizing the retailer in a €12.6. billion takeover. However, the appointment for the new supermarket chief will take months.

Goyder wouldn't be drawn on a timetable for appointing a supermarket boss to replace outgoing chief executive John Fletcher. Goyder he was continuing "delicate negotiations" with prospective candidates to lead the supermarkets business, but did not know whether an appointment could be announced by the November 23 handover date. Until the new top boss begins work, Coles' existing supermarket chief Mick McMahon will run the business.

"We are now in a position to move into more detailed discussions with a number of people, but these people will need to give a notice period," Goyder said. "So we are talking months. We want a retailer with supermarket experience as there are new things we want to do with the business."

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