Wesfarmers has elevated Aleksandra Spaseska to run its Kmart discount department stores division, succeeding Ian Bailey who will become chairman of the fast-growing Anko Global homewares empire.
Mr Bailey plans to retire in April 2025 from overseeing the retailer, which spans Kmart and stablemate Target. This means Ms Spaseska, who is Kmart’s group chief financial officer, will take the helm at a time when the Reserve Bank is expected to be on the cusp of cutting interest rates, which could revive discretionary spending.
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