Australia's biggest retailer, Coles Myer, has appointed a new chief executive, John Fletcher, and analysts are expecting him to shake the company into shape.

Three profit warnings in six months had left the market sour on Coles Myer, but now the former Brambles Industries chief executive has stepped in at the helm.

Fletcher replaces American Dennis Eck on September 10th and analysts are predicting he faces a tough time, particularly sorting out the company's non-food business.

Regarded as a blue-chip executive with a no-nonsense approach, Fletcher is renowned for his disciplined management style.

Coles Myer is due to report its net profit results in September. The retailer has already warned that net earnings will be likely to sink below its previous estimate of A$340 million, compared with A$484 million in 1990-00.


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