Kmart Group MD Ian Bailey will retire from his role, effective in April, and will transition to chairman of another Wesfarmers subsidiary, Anko Global.

Current Kmart CFO Aleksandra Spaseska will succeed Bailey as MD. She has been appointed as deputy MD of Kmart, effective today and assuming the MD role on April 1.

Spaseska started her career at Wesfarmers as a business development analyst in April 2008.

“Working with Ian, Aleks has played an important role in key strategic initiatives within Kmart Group, including the restructuring of Target and transformation activities in data and digital, global sourcing and supply chain,” said Rob Scott, Wesfarmers MD.

“Aleks brings deep knowledge of the Kmart and Target businesses together with strong commercial acumen.”