Garry Hounsell replaces Paul McClintock as Myer Chairman

Myer Holdings Limited has announced that at the end of the AGM on November 24, 2017, Paul McClintock AO retired as the company’s chairman and a director. Garry Hounsell has now assumed the role of Chairman. The company also added that Anne Brennan has also retired as a director of the company.

The development comes even after Solomon Lew, whose Premier Investments Retail Group holds around 11 percent stake in the company, asked fellow shareholders to join him in voting against appointment of three directors, including chairman Garry Hounsell as a protest against its falling share price and struggling sales.

In its recently first quarter trading development announcement, the Australian departmental store chain had reported that sales of 699 million dollars, down 2.8 percent, while sales on a comparable basis were down 2.1 percent.

Picture:Facebook/Myer