Wesfarmers (WES) AGM 2025 summary

Opening remarks and agenda

• The meeting opened with a Welcome to Country and acknowledgment of the Whadjuk Noongar people, followed by introductions of the board, executives, and procedural instructions for hybrid participation.

• The Chairman confirmed a quorum, outlined the agenda, and recognized retiring and new board members.

Financial performance review

• Reported a record net profit after tax (excluding significant items) of $2.7 billion, up 3.8% year-on-year.

• Fully franked dividends increased to $2.06 per share, up 4% from the prior year.

• Bunnings, Kmart Group, Officeworks, and Health divisions saw profit growth, while Chemicals, Energy & Fertilisers and Industrial & Safety declined.

• $1.50 per share additional distribution proposed, enabled by divestments including Coles and Coregas.

Board and executive committee updates

• Three directors stood for re-election/election: Mike Roche, Sharon Warburton, and Julie Coates, with high approval rates.

• Jennifer Westacott retired after 12 years; Ken MacKenzie announced as incoming chairman from June 2026.

• Internal leadership changes included new managing directors for Kmart, WesCEF, Officeworks, and OneDigital.