But they should be looking whether this makes financial sense.
The New Myer strategy is in tatters, and the company is rudderless. Its chief executive Richard Umbers has left the building, following closely on the heels of finance chief Grant Davenport, and the recently installed chairman Garry Hounsell has torched his credentials by having backed Umbers.
Myers other significant shareholder, fund management company Investors Mutual, which had refused to support Lews plans for a board coup, has seen its position to stand with the existing board undermined by the departure of Umbers and a series of recent profit downgrades.
Myer top model Jennifer Hawkins with Richard Umbers
Photo: Melissa Singer
The department stores problems now run so deep i…
Read the full article at: https://www.brisbanetimes.com.au/business/companies/existential-crisis-even-solly-lew-will-struggle-to-save-myer-20180214-p4z0ad.html
