Myer has confirmed it is continuing the search for a new CEO, following a probe from its largest shareholder ahead of its AGM yesterday.
Premier Investments pushed for answers on the future of Myer’s leadership team as Myer CEO John King, CFO Nigel Chadwick and chair JoAnne Stephenson prepare to exit the business over the next six months.
Stephenson said the department store has made progress on King’s replacement.
“The board is well-advanced in the search for a replacement CEO for John King, with interesting candidates both locally and internationally.
”John has provided extraordinary leadership of the Myer team over the past five years in strengthening the business through the development, refinement and delivery of the Customer First Plan.
“This has been against a backdrop of, at times, very challenging trading conditions, however, John’s focus on outcomes has been unwavering.”
Director Ari Mervis will take over as new chairman with deputy CFO Matt Jackman succeeding Chadwick as CFO.
“Matt has been with the Myer business for over six years, having previously worked in finance leadership roles at Toll Group after starting his career at KPMG,” Stephenson said. “This appointment will ensure a smooth transition within the business.”