He made his comments as the retail conglomerate defended its plan to spin off its Coles supermarket business, which shareholders will vote on Thursday afternoon, and its unusual decision to retain a 15 per cent stake in the new, separately listed company. Mr Chaney told shareholders at Wesfarmers' annual general meeting in Perth on Thursday that the company felt no pressure to buy new businesses to fill a perceived "earnings hole" after the $20 billion spin-off of Coles, its largest asset. He said the conglomerate had potential to grow its existing businesses including Bunnings, Officeworks, Kmart and Target, and its industrials arm.