Myer CEO Richard Umbers steps down amid turmoil
Myer chief executive Richard Umbers has departed the under-siege department store amid continued turmoil over its trading performance and leadership.
The company said on Wednesday morning Mr Umbers had stepped down and that the search for a new CEO would begin immediately.
“We are impatient for a turnaround in the company’s performance and the board has determined that it is in the interests of all shareholders for there to be a fresh approach to drive our future direction," Myer chairman Garry Hounsell said.
Mr Hounsell said the decision “reflects my desire to drive, first-hand, the urgency required to deliver shareholder value”. Sydney Morning Herald – Read more…
The company said on Wednesday morning Mr Umbers had stepped down and that the search for a new CEO would begin immediately.
“We are impatient for a turnaround in the company’s performance and the board has determined that it is in the interests of all shareholders for there to be a fresh approach to drive our future direction," Myer chairman Garry Hounsell said.
Mr Hounsell said the decision “reflects my desire to drive, first-hand, the urgency required to deliver shareholder value”. Sydney Morning Herald – Read more…
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