Wesfarmers Insurance MD Rob Scott is to become the Finance Director of retailer Coles.

Mr Scott has run the insurance division since 2007. He will replace Coles Finance Director Tony Buffin, who has resigned to join a Top 50 company in the UK.

It’s understood the move will come into effect at the end of February, with Wesfarmers Insurance Finance Director Anthony Gianotti acting in the MD role until a permanent appointment is made.

Wesfarmers MD Richard Goyder says Mr Scott has “performed extremely well” in improving the operational performance of the insurance division and “establishing a strong platform for future earnings growth… against the backdrop of what was an extremely challenging period for the entire insurance industry”.

Mr Scott completed a two-year term as President of the Insurance Council of Australia at the end of last year.