Australian conglomerate Wesfarmers Ltd has recruited former Asda chief Archie Norman as an adviser on its acquisition of retailer Coles Group Ltd. The former Asda man would also oversee Coles core business if the takeover is completed.
Norman will begin work immediately on developing plans for the Coles businesses, particularly its supermarket operations.
Wesfarmers is due to buy Coles, subject to Coles shareholders approval of its A$19.8 billion (£8.6bn) offer at a vote on November 7.
Analysts believe Wesfarmers faces a difficult task transforming the fortunes of Coles struggling core supermarkets and liquor business which has lost market share to larger rival Woolworths.
Wesfarmers has been scouring the retail globe to find the minds to help with the Coles overhaul, and its managing director Richard Goyder recently travelled to the UK to interview candidates.
Norman was held responsible for turning around an ailing Asda supermarket chain in the 1990s, before its sale to Wal-Mart Stores in 1999.
He also acted as a consultant for Permira, one of the private equity firms in a consortium that was expected to bid for Coles earlier this year, but pulled out before the deadline.
"(Norman) is already familiar with Coles given his visits to Australia during the due diligence phase of the transaction and his very active involvement in the management presentations in May," said Goyder in a statement.
Norman would also be deputy chairman of the board overseeing Coles' core food and liquor businesses after the takeover.
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