Wesfarmers Chairman acknowledges Coles’ past mistakes
Speaking at the Wesfarmers AGM yesterday, Chairman Bob Every said Coles has taken many steps to improve supplier relations since the ACCC began its investigations in June 2012.
"There is no doubt Coles has made some mistakes in the past," Mr Every said. "Since the investigation started, Coles has taken many steps to seek to avoid similar problems in the future."
These steps include significantly strengthening its codes of conduct; additional training of buyers on competition laws; the development of an internal ‘supplier charter’; negotiation with the Australian Food and Grocery Council and federal Government of a binding grocery industry code of conduct; and the establishment of an informal and low-cost dispute-resolution process for suppliers, administered by former Victorian premier Jeff Kennett.
"We believe Coles’ current relationships with its suppliers are now much improved and generally very good." Source – Retail World