Wesfarmers has announced that Ian Bailey, Managing Director of Kmart Group, has advised of his intention to retire from the position in April 2025. Following his retirement, Mr Bailey will remain with Kmart Group to support a smooth leadership transition and serve as Chairman of Anko Global.
Kmart Group Managing Director Ian Bailey.
Mr Bailey will be succeeded by Aleksandra Spaseska, Kmart Group’s Chief Financial Officer. Prior to her current role, Ms Spaseska held senior divisional and corporate executive positions with Wesfarmers.
Wesfarmers Managing Director Rob Scott said he looked forward to working with Ms Spaseska to create long-term value for shareholders.
Kmart Group Chief Financial Officer Aleksandra Spaseska.
“I’m delighted to announce Aleks’ appointment as incoming Managing Director of Kmart Group. Aleks brings deep knowledge of the Kmart and Target businesses together with strong commercial acumen,” Mr Scott said. “Working with Ian, Aleks has played an important role in key strategic initiatives within Kmart Group, including the restructuring of Target and transformation activities in data and digital, global sourcing and supply chain.
“Aleks’ appointment highlights Wesfarmers’ strong talent development and succession planning processes.”
Mr Scott also thanked Mr Bailey for his outstanding contributions to Kmart Group and the broader Wesfarmers Group, over many years.
“Ian has played an instrumental role in Kmart Group, driving the transformation of Kmart, including the development of the unique sourcing model which has underpinned its success and created significant value for Wesfarmers’ shareholders,” Mr Scott said. “He has been a pivotal figure in Kmart’s growth, creating a world-class product development company and trusted brand. In recent years, Ian has led important strategic moves to take Anko into new markets and simplify and strengthen Target.
“Ian leaves Kmart Group in excellent shape, and he has the gratitude and best wishes of the Wesfarmers Board, Leadership Team and the broader Group.”
Mr Bailey said he was proud to have contributed to Kmart Group’s success.
“It has been a privilege to lead the Kmart Group team as we transformed the businesses, making Kmart a great place to shop that is simple to run,” Mr Bailey said. “I will leave the division in very capable hands and look forward to supporting Aleks during the transition and beyond.”
Ms Spaseska has been appointed Deputy Managing Director of Kmart Group effective 5 December 2024, commencing as Managing Director on 1 April 2025, at which time it is expected she will become a member of Wesfarmers’ executive key management personnel.
