Archie Norman to advise Wesfarmers on Coles acquisiton
Archie Norman, through his management company Aurigo Management Partners, will begin work with Wesfarmers to help develop plans for the Coles businesses, in particular the supermarket operations. He will also advise Wesfarmers managing director Richard Goyder on the recruitment of senior executives to supplement existing management resources within the Coles group. Mr Goyder said that after the anticipated ownership transfer, he would chair the board overseeing Coles' food, liquor and convenience businesses. Mr Norman said that it would take Coles at least five years after its acquisition to recover from its losses. Mr Norman is credited with the conversion of UK chain Asda from an unprofitable chain into a successful retailer in the early 1990s before it was taken over by US giant Wal-Mart.