Wesfarmers
(ASX:WES) boss Richard Goyder has launched an internal review of possible anti-competitive practices within supermarket subsidiary Coles.
The move follows an official investigation by the competition watchdog into the way Coles deals with suppliers. The ACCC has received numerous complaints of the supermarket giant misusing its market power to drive down supplier prices.
The Wesfarmers chief has reportedly taken the extraordinary step of inviting disgruntled suppliers to sidestep Coles, and contact him directly, if their concerns aren’t be properly addressed.
The internal review comes as outgoing Metcash
(ASX:MTS) chief Andrew Reitzer slammed the ACCC for failing to regulate the grocery market.
Wesfarmers last reported a first half net profit of $US1.29 billion.
