 Chaney, who served as Wesfarmers managing director from 1992 through to 2005, will join the company’s board as chairman-elect from June 1.
Currently chairman of both Woodside and the National Australia Bank, Chaney is set to step down from his role at NAB at the company’s annual general meeting in December. “When I was appointed chairman of Wesfarmers, I declared my main objective was to be custodian of the culture,” Dr Every, who joined the Wesfarmers board in 2006 and became chairman in 2008, stated. “Who better then to succeed me than Michael, who played such a vital role in establishing that culture. “Michael has had an outstanding career as a CEO and chairman and brings that experience and his expertise to the company as it moves into its next phase.” Chaney stated it was an honour to take on the chair role. “Over the last 10 years, Wesfarmers has grown enormously and very much retains the strong shareholder focus for which it has been well known,” he commented. Chaney, who was Wesfarmer’s sixth managing director, will become just its 11th chairman. Dr Every’s tenure as chairman will end in November. |
