)
THE man behind Bunnings' home improvement domination has resigned from his role in charge of the retailer.
John Gillam (pictured) says it is the right time to "pass on the leadership baton" at Bunnings, where he has held the role of CEO and managing director for 12 years.
It comes six months after Wesfarmers (ASX: WES) bought UK business Homebase for $705 million, which it will use to take the Bunnings brand international.
Bunnings Australia and New Zealand managing director Mike Schneider and Bunnings United Kingdom and Ireland managing director Peter (PJ) Davis will now report directly to Wesfarmers managing director Richard Goyder.
Gillam will continue to support the business in an advisory role for one year.
"Mike and PJ have been outstanding leaders in helping drive the growth and success of Bunnings and are well placed to take the business forward," he says in a statement to the ASX today.
"I look forward to continuing to support the Bunnings team in an advisory capacity, while also having the opportunity in the coming years to pursue other interests."
Gillam has worked for Wesfarmers for almost 20 years and took the lead role at Bunnings in 2004, which was 10 years after the company was purchased by Wesfarmers.
During Gillam's time in charge of the company, earnings great from $392.1 million to $1.2 billion.
Goyder paid tribute to Gillam while praising the company's succession planning.
"Before we acquired Homebase we spent many months bedding down a new Bunnings management structure," he says.
"That structure, which has now been in place for almost a year, is serving the business well and we look forward to John's ongoing contribution in his new more flexible advisory role."
Wesfarmers, which is Bunnings' parent company, is trading up 0.36 per cent this afternoon at $40.335 per share.
Enjoyed this article?
Don't miss out on the knowledge and insights to be gained from our daily news and features.
Subscribe today to unlock unlimited access to in-depth business coverage, expert analysis, and exclusive content across all devices.
Support independent journalism and stay informed with stories that matter to you.
)
)
)
)
)
