Wesfarmers (ASX: WES) has today confirmed that Ian Bailey, the long-serving Managing Director of Kmart Group, will retire in April 2025, bringing to a close an era of transformative leadership at the retail giant. Mr Bailey, who has been at the helm of Kmart Group for years, will continue to support the company during the leadership transition and will assume the role of Chairman of Anko Global following his retirement.
A Smooth Transition Ahead
Mr Bailey’s successor will be Aleksandra Spaseska, Kmart Group’s current Chief Financial Officer. Spaseska, who has held senior roles within Wesfarmers prior to her current position, brings a wealth of experience and a deep understanding of the Kmart and Target businesses. According to Wesfarmers Managing Director, Rob Scott, Spaseska’s appointment underscores the company’s strong focus on talent development and succession planning.
“I’m delighted to announce Aleks’ appointment as the incoming Managing Director of Kmart Group,” said Mr Scott. “Aleks brings a wealth of knowledge, a sharp commercial acumen, and a proven track record in key strategic initiatives at Kmart Group, including the restructuring of Target and the transformation of key areas such as data and digital, global sourcing, and supply chain.”
A Legacy of Growth and Transformation
Mr Bailey’s leadership has been instrumental in reshaping Kmart Group into a formidable player in the retail sector. Under his guidance, Kmart underwent a significant transformation, with Mr Bailey overseeing the development of Kmart’s unique sourcing model—a key factor in the company’s success and a major contributor to Wesfarmers’ value creation.
In addition to driving Kmart’s growth, Mr Bailey played a pivotal role in the strategic expansion of Anko, the company’s private label brand, into new markets, and led initiatives to simplify and strengthen the Target division. His leadership has left Kmart Group in a strong position for the future, with Mr Scott acknowledging his substantial contribution to both Kmart and Wesfarmers.
“Ian has played an instrumental role in Kmart Group, and his work has created significant value for Wesfarmers’ shareholders. He leaves Kmart in excellent shape, and we are grateful for his outstanding leadership over many years,” Mr Scott added.
Looking to the Future
As of December 5, 2024, Ms Spaseska will take on the role of Deputy Managing Director of Kmart Group, setting the stage for her official appointment as Managing Director on April 1, 2025. This move will also see her join Wesfarmers’ executive key management personnel.
In response to the news, Mr Bailey expressed his pride in having contributed to Kmart Group’s growth. “It has been a privilege to lead the Kmart Group team as we transformed the business,” Mr Bailey said. “I will leave the division in very capable hands and look forward to supporting Aleks during the transition and beyond.”
What This Means for Wesfarmers and Investors
This leadership change at Kmart Group marks a new chapter in Wesfarmers’ retail strategy. Aleksandra Spaseska’s appointment reflects a clear commitment to continuity, ensuring that Kmart Group’s ongoing transformation remains on track under experienced leadership.
For investors, the transition highlights Wesfarmers’ strong internal talent pipeline, which positions the company well for sustained growth and value creation in the coming years. With Kmart Group continuing to adapt to shifting market dynamics, Spaseska’s appointment reinforces the company’s strategic focus on long-term growth and retail innovation.
