The commercial director of Wesfarmers Limited (ASX:WES) Ian McLeod has resigned to become President and CEO of Bi-Lo supermarkets in the US.
The conglomerate says Mr McLeod led the turnaround and transformation of Coles following its acquisition in 2007 and has done an outstanding job in his six years with the company.
Managing Director Ian Goyder says the new role reflects the high regard in which he is held in the global retail industry; under his leadership Coles more than doubled its earnings before interest and tax.
Bi-Lo is one of the largest supermarket operations in the US with more than 70,000 employees in 801 stores.
Wesfarmers reported a net profit of $2.68 billion in the 2014 financial year.
