Kmart managing director Ian Bailey to retire
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The news: Wesfarmers has announced subsidiary Kmart’s managing director, Ian Bailey, will retire next year and will be succeeded by the retail store's chief financial officer Aleksandra Spaseska.
The numbers: Bailey, who took over as Kmart Group boss in February 2016, will step down from his role in April 2025. He will remain with the group to support a smooth leadership transition and serve as chairman of Anko Global.
The context: Spaseska has served senior divisional and corporate executive positions in Wesfarmers. She took over as company secretary of Wesfarmers Group in July 2019 before being appointed as chief financial officer of Kmart in March 2020.
She has been appointed deputy managing director of Kmart Group effective 5 December and will start as managing director on 1 April, at which time she will become a member of Wesfarmers’ executive key management personnel.
What they said: "Aleks brings deep knowledge of the Kmart and Target businesses together with strong commercial acumen," Wesfarmers managing director Rob Scott said.
"Working with Ian, Aleks has played an important role in key strategic initiatives within Kmart Group, including the restructuring of Target and transformation activities in data and digital, global sourcing and supply chain."
The source: ASX announcement
