The UK retail executive who led the transformation of the Asda grocery chain will have a key advisory role in the proposed Wesfarmers acquisition of Coles.
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Archie Norman, through his management company Aurigo Management Partners, will begin work with Wesfarmers immediately to help develop plans for the Coles businesses, in particular the supermarket operations, Wesfarmers said today (18 October).
He will also advise Wesfarmers managing director Richard Goyder on the recruitment of senior executives to supplement existing management resources within the Coles group.
Goyder said that after the anticipated ownership transfer, he would chair the board overseeing Coles’ food, liquor and convenience businesses.
“Archie will be available as deputy chairman of that board to influence the way we go about improving the results from the most financially significant part of Coles,” he said. “Archie’s great retail expertise in leading the team that so successfully turned around Asda will make a tremendous contribution before and after we embark on that task.
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By GlobalData“He is already familiar with Coles given his visits to Australia during the due diligence phase of the transaction and his very active involvement in the management presentations in May.”
Norman said: “I am delighted to have a chance to advise on one of the most exciting turnaround opportunities in global retailing. I have seen enough of the business to know that there is enormous scope for improvement. The Coles brand and their underlying competitive position remains potentially very strong. With the right team and new direction the opportunity for both shareholders and employees is enormous.”
