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Comfort Deluxe Mattress - Swag Comfort Deluxe Mattress Camp Comfort Deluxe Mattress Double Comfort Deluxe Mattress Double Caravan Comfort Deluxe Mattress Queen Comfort Deluxe Mattress Single Comfort Deluxe Mattress Single Caravan 3 in 1 Foam Roller Airbed Durabeam Supreme Queen Ridge Ryder by Evakool (12) Fridges & Coolers (10) Pop Up Accessories (6) Light Duty Poly Tarp (5) Shades & Gazebos (4) Ultra D-Ring Tarp (3) Industrial Grade Poly Tarp (3) Shade & Gazebos (2) LED Light Kit (2) Gas & Cooking (2) Directories & Maps (2) Gas & Accessories (1) 12 Volt Air Compressors (1) Vacuum Bag Rolls (1) Portable Butane Heater (1) Key Ring Worklight (1) Cast Iron Plate (1) Gas Bottle Holder (1) Show 24 More Items Outgoing Bunnings boss John Gillam will advise Wesfarmers on asset sales, acquisitions and the arrival of Amazon after stepping down after 12 years at the helm of the conglomerate's most profitable business.
Mr Gillam's surprise resignation on Wednesday, just 10 months after he spearheaded Bunnings' expansion into Britain and Ireland, has shocked Wesfarmers investors and leaves the company with a smaller field of candidates to succeed group managing director Richard Goyder.But Mr Goyder moved to allay investor concerns, saying Mr Gillam was leaving Bunnings in good hands and in good shape after lifting sales and earnings three-fold over 12 years and would continue to work for Wesfarmers as an adviser for an He's done a John Key – he's stepping down at a time when he's really at the top of his game," Mr Goyder told The Australian Financial Review. Mr Gillam will primarily work as an adviser to Bunnings but will also work with Mr Goyder on a series of projects including plotting Wesfarmers' defence against the inevitable arrival of Amazon and the shape of Wesfarmers' portfolio, including possible asset sales and acquisitions. "John is a great thinker and I'll want to engage with him on what sort of things we should think about on a group level – growth and portfolio issues," he said.
"With John out of his current role, he and I will have a bit more freedom on the way we talk about some of those things.""We are doing a bunch of work to make sure we have the best setup we can (ahead of Amazon's entry) and I'm sure John can help with that," he said.Mr Goyder rejected suggestions Mr Gillam had resigned because he had been told he would not win the top job, saying "that's completely wrong".Mr Gillam was one of three internal candidates, along with finance director Terry Bowen and industrials chief Rob Scott, under consideration to take the helm when Mr Goyder, who has been group managing director for 11 years, retires in a year or two. "There's no question John has been on the list if I got hit by a bus," Mr Goyder said, adding that there were "more than enough" candidates left.It is understood that Mr Gillam, 50, recently decided he wanted to "do something different" rather than stay at Wesfarmers for another 10 years. The Carlton fan was also reluctant to move from Melbourne, where two of his three children are still at school, back to his home town of Perth.Mr Gillam declined to comment on his resignation or future plans, saying only that he had greatly enjoyed being a part of the Wesfarmers group for the best part of two decades."
I firmly believe that now is the right time to pass on the leadership baton," Mr Gillam said. "I look forward to continuing to support the Bunnings team in an advisory capacity, while also having the opportunity in the coming years to pursue other interests." Just hours before his resignation was announced Mr Gillam registered a new shelf company, Descubridor (Spanish for discovery) Ventures Pty Ltd, with his wife Helen.His resignation came as a surprise to Wesfarmers investors and analysts, coming so soon after Bunnings' $705 million acquisition of British home improvement chain Homebase and its successful strategy to crush Woolworths' failed big-box chain Masters, which closes its doors next week."It seems a bit odd given he was the architect of the UK acquisition and it's only just getting going and they're about to roll out their first (Bunnings) stores," said one fund manager who declined to be named. "You'd think he'd be all pumped and ready to go, and suddenly he's not there any more.""
This is a surprise and will be viewed as a loss given his success over many years in more than tripling (earnings)," said Citigroup's head of research, Craig Woolford. However, investors took heart from the fact that Mr Gillam would remain an adviser to Wesfarmers and that his 12-month notice period would only kick in when his advisory role was finished, effectively keeping him out of reach of rivals for two years.Former Coles boss Ian McLeod lasted barely a year as an adviser before joining US retailer Bi-Lo Holdings last year.Mr Gillam's role as Bunnings chief executive, which was created in January when the group unveiled its bid for Homebase, will not be filled.Bunnings Australia and New Zealand managing director Mike Schneider, who was appointed to the role in January after running Bunnings' store operations, and Bunnings United Kingdom and Ireland managing director Peter (PJ) Davis, who was formerly Bunnings' chief operating officer, will now report directly to Mr Goyder. Mr Gillam will continue to chair the Bunnings Group Council, which was set up at the time of the Homebase acquisition to coordinate Bunnings activity across all markets, and will also join the Bunnings United Kingdom and Ireland advisory board, which includes long-time Wesfarmers adviser Archie Norman and former Masters boss Matt Tyson.Mr Gillam had notched up 20 years of service at the $45 billion conglomerate
, including 12 years at Bunnings, during which time sales rose from $3.8 billion to $11.6 billion and earnings before interest and tax from $342 million to $1.2 billion, representing 11 per cent CAGR and a return on capital of almost 37 per cent.The father of three is credited with lifting Bunnings' share of the $48 billion home improvement market to almost 20 per cent and its share of the DIY market to almost 50 per cent while fending off Woolworths' attempted entry into the big-box sector through Masters, which closes its doors next week.Mr Gillam joined Wesfarmers in 1997, was appointed chief financial officer in 1999, company secretary in 2001 and ran chemicals and fertilisers business CSBP from 2002 until taking the helm of Bunnings in 2004. He was also chairman of Officeworks for eight years.Mr Gillam holds 496,073 Wesfarmers shares, currently worth $19.9 million.Mr Gillam joined the board of Ruyton Girls school in 2012 and has held several board positions in the not-for-profit sector, including the Heartwell Foundation, which supports disabled children, and the Business Advisory Council for World Vision.He is also actively involved in the Clontarf Foundation, which aims to improve the self-esteem and employment prospects of young Aboriginal men through Australian Rules and rugby league.