Wesfarmers (WES) AGM 2026 summary

Opening remarks and agenda

• 45th AGM opened in Perth with four formal items: FY26 accounts, director elections, FY26 remuneration report and managing director equity awards.

• All resolutions were to be decided by poll, with online and in-person voting; final results were to be announced later that day.

Financial performance review

• FY26 NPAT was AUD 2.9b, up just over 8% on the prior year, excluding significant items in that year.

• Earnings increased in Bunnings, Kmart, Chemicals, Energy and Fertilisers, Industrial and Safety, and Health; Officeworks earnings fell, largely due to restructuring.

• Current FY began reasonably: strong WesCEF performance offset moderated retail demand; Bunnings sales growth slowed from H2 FY26, while Kmart growth tracked broadly in line with H2.

Board and executive committee updates

• Michael Chaney retired as chair after serving since 2015; Ken MacKenzie stood for election and was set to succeed him at the meeting’s conclusion if elected.

• Bill English and Alan Cransberg stood for re-election; Bunnings MD Mike Schneider is to retire in February 2027, with Rachael McVitty named as successor.

• Industrial and Safety transitioned into Bunnings; Tim Bult retired as its MD after 26 years with the business.

• More than 100,000 employees were acknowledged; leadership and the board remained gender-balanced, with Indigenous employment parity maintained.