Wesfarmers eyes online growth

Group plans 'disciplined' changes; cuts Coles MD's remuneration.

Wesfarmers (WES) sees future opportunities in its online business but says it will be 'disciplined' about making any changes.

In its annual report, managing director Richard Goyder said the group's revenues are now around the $1 billion mark.

"The future holds much opportunity in this area as our businesses develop and implement digital strategies to lift efficiency and enhance the value we provide to customers," Mr Goyder said.

"As always, we will also look to make appropriate changes to our portfolio but remain patient and disciplined in doing so."

Mr Goyder's total remuneration package was $8.6 million in fiscal 2013, slightly higher than $8 million the previous year.

Coles managing director Ian McLeod's total remuneration was $10.7 million in the year, down from $14.8 million the prior year, the annual report said.