WES ASX: Bunnings top management undergoes restructure but CEO says it’s not a cost-cutting exercise

top management has resulted in the departure of four executives but managing director Mike Schneider said it was not part of a cost-cutting blitz.The Australian Financial Review“It’s certainly not a Telstra type of thing,” he said, referring to the savage cuts of 2800 positions announcedBunnings managing director Mike Schneider says he is not going anywhere.

Among other changes announced internally, Ryan Baker, the Bunnings chief customer officer, has been appointed as chief operating officer, while current chief financial officer Rachael McVitty will become chief customer officer. Mr Schneider said the reshuffle of the executive ranks was designed to bring the commercial and customer teams closer together.He said the cost savings would be minimal. “There’s no cost increase or decrease,” he said.

Australia Latest News, Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

ASX WES: Wesfarmers sprays growth bets, waiting to hit targetsWesfarmers’ hefty businesses proved their resilience in the pandemic. Now, with Wesfarmers shares breaking $65 for the first time, Rob Scott needs us to think about growth.
Source: FinancialReview - 🏆 2. / 90 Read more »

ASX 200 LIVE: ASX to edge up; Westpac announces $1b buyback and special dividendShares to rise at the open; Reserve Bank interest rate decision this week; BHP has industry super’s blessing for Anglo American copper prize. Follow here for more.
Source: FinancialReview - 🏆 2. / 90 Read more »

KGN ASX: ASX queries Kogan executive options sale ahead of share plungeThe online retailer, in response to questions from the market operator, said it did not think a poor sales update that sent its stock tumbling was material.
Source: FinancialReview - 🏆 2. / 90 Read more »

TEA ASX: Tasmea will list on the ASX with a sharemarket value of $340mStephen Young says he held out for the thawing of the IPO market rather than commit a “breach of faith” by selling to private equity buyers.
Source: FinancialReview - 🏆 2. / 90 Read more »

GNC ASX: ASX activists HMC Capital take aim at GraincorpHMC Capital has revealed a position in Graincorp, marking the group’s fourth public bet from the highly concentrated Capital Partners Fund.
Source: FinancialReview - 🏆 2. / 90 Read more »

ASX 200 LIVE: ASX to rise, S&P 500 extends its rally, Platinum’s FUM sinksASX futures add 0.2 per cent. Dow rises for five straight days. ANZ sticks to November rate cut call. Flight Centre, Jumbo Interactive confirm guidance. Follow updates here.
Source: FinancialReview - 🏆 2. / 90 Read more »