McLeod plans Coles' recovery

VICTORIA, AUSTRALIA: The new Scottish MD of Australian grocery retailer Coles has outlined a recovery plan after telling reporters the business had "lost its way". Ian McLeod, formerly an Asda executive, but most recently chief executive of cycle retailer Halfords, has moved to Australia to take up a five-year contract with Coles. "I think it's lost its way because it's lost contact with its customers," he said of the business. McLeod has spent the past two months refreshing his knowledge of the grocery retail scene by visiting more than 30 major chains in Europe, Canada and the US.