Foster's Group has announced that its chairman will retire from the company after its AGM at the end of next month.

The company said today (26 September) that Frank Swan will be succeeded as chairman by non-executive director David Crawford.

The company also announced other changes to the board including the retirement of non-executive director Colin Carter, also a director of Wesfarmers, who plans to retire at the end of the month.

Carter's resignation from Foster's board is a result of the proposed acquisition by Wesfarmers of Foster's retail liquor customer, Coles Group, the company said.

Foster's CEO Trevor O'Hoy said: "Frank has made a significant contribution as chairman through periods of major change and business transformation. His guidance has helped to position Foster's well for the future."

Swan added: "David has extensive experience both serving on, and chairing, boards of major companies in areas as diverse as banking, construction and resources. David's appointment will ensure the board has the leadership required to meet the challenges ahead. On behalf of the board, I congratulate David on his pending appointment and thank Colin for his contribution."