Wesfarmers (WES) Fireside Chat summary

Introduction and agenda

• The session opened with a welcome and introduction of Rob Scott, CEO, highlighting his leadership through major changes and recent challenges such as the Coles demerger and COVID.

Background and experience of the speaker

• Rob Scott has been with the company since 1993 and became CEO in 2017, leading through significant transformations.

Current industry trends

• High uncertainty in global markets, especially regarding tariffs and supply chain disruptions, is prompting a focus on resilience and adaptability.

• Australian consumers are experiencing mixed impacts from cost-of-living pressures, with lower-income households feeling the most strain.

• Small and medium businesses are under pressure from inflation, regulation, and higher costs, particularly in construction.

• The retail sector is seeing a shift toward value and deliberate consumer spending, with ongoing attention to B2B customer health.

• The federal election result is seen as an opportunity for government reform to support business growth and productivity.