The result saw shares in Wesfarmers up $1.84 or 6% to a record of $32.46. Boardroom manoeuvring announced the day after saw little change in the share price. The company's finance director, Mr Erich Frauschiel, is to retire in July and will be replaced by the head of the rural and insurance division, Mr Richard Goyder.

Many in the market believe that Mr Goyder and the head of Wesfarmers Energy, Mr David Robb, are the most likely successors to current managing director, Mr Michael Chaney. The promotion to finance director seems to have consolidated Mr Goyder's prospects, according to many industry watchers.