Wesfarmers must renew its conglomerate licence

At a time when companies are under pressure to demerge and focus on their cores, investors have allowed Wesfarmers to remain a conglomerate. It needs to diversify very soon to stay that way.

Wesfarmers chief executive, Richard Goyder, talks about having a “conglomerate licence”.

He means that in an era of investors forcing companies to demerge and, like pilates devotees, to focus on their cores, Wesfarmers is being allowed by the market to remain a conglomerate.

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