Friday, February 11 Luncheon

Guest Speaker:  Michael Fagan, Chief Transformation Officer for Village Roadshow

Topic:  Kmart – the greatest turnaround in Australian retail history

When Wesfarmers purchased the Coles Group in 2007 for $19.3bn it was the largest transaction in corporate history at that time.  WES of course sought to acquire and turn around Coles, and get two strong performing businesses in Officeworks and Target.  There was also a problem child, Kmart.  Despite nearly $4bn in Revenue, Kmart made almost no profit and WES considered closing it down.  Just 8 years later Kmart was the best performing apparel and general merchandise retailer Australia had ever seen, growing sales to $6bn and profit tenfold to $600m, and a return of capital of 50%.  Hear the inside story from someone who was there from the beginning…

Michael Fagan is the Chief Transformation Officer for Village Roadshow.   He has over 25 years of experience across industry and consulting and most recently he was Chief Technology Officer for the  Kmart Group – a $10bn retailer consisting of the Kmart, Target, and Catch brands in Australia. Kmart is part of Wesfarmers, a US$70bn retail group.  As CTO he led the IT, Advanced Analytics, Engineering, Data, and Product Management teams supporting 50,000 employees in 500+ stores delivering more than ten million customer interactions every week, and selling one billion units each year.

Michael led the technology team to become 100% cloud-certified and remotely migrated from the Mainframe to the cloud – both world-firsts, and grew the online business by 700% in less than 3 years. At Kmart he previously held the role of GM of Store Renewal, implementing the largest capital project in the history of Wesfarmers, delivering the program of work while saving nearly a quarter of a billion dollars.  He was also head of operations for Asia, establishing offices and operations in 5 countries and building a $2bn sourcing business.  Under his leadership, Kmart became the first Australian signatories to the Bangladesh Accord and a leader in ethical sourcing.

Prior to joining Kmart, he was a senior manager at Accenture, leading several projects of more than $100m in Financial Services, Telecommunications, and Government.  Michael holds a Bachelor of Engineering from the University College Dublin and an MBA from Deakin University.  He is a Six-Sigma black belt and certified in AWS Cloud.

Date:      Friday 11 February 2022

Venue:        The Kelvin Club, 14–30 Melbourne Plac

                     (East-side of Russell Street between Little Collins & Bourke)

Time:          12:30 pm for 12:40 pm

RSVP:         COB Wednesday 9 February 2022

Credit card payment and reservation can be made via Trybooking Link

Please follow us on Linkedin and Facebook

  •      Non-members and family members are welcome.
  •      Dress code is business casual, no denim.
  •      Please advise of any dietary requirements at the time of booking.
  •      Due to catering requirements, payment will be required despite non-attendance or cancellation after the RSVP date.
  •      This document will become the tax invoice for GST purposes when payment is made; the amount excludes GST.