As Solomon Lew Knocks, Myer Beefs Up Management
Myer has seemingly taken the advice of Solomon Lew, by appointing a new Chief Customer Officer with direct retail experience, including tenure at David Jones. It comes amidst legal taunts from Lew, who’s called for Myer to release Q1 results significantly before its AGM.Former Tourism Australia GM of Global Media, PR and Social, Geoff Ikin, has beefed up Myer’s leadership team, replacing its marketing and customer executive GM, who was made redundant a month ago.
Before his three year stint at Tourism Australia, Ikin was Westpac’s head of mass media, advertising and agency management, and prior to this David Jones’ marketing and program manager for six years.
In his capacity as Chief Customer Officer, Ikin will be tasked with combining Myer’s customer facing functions – encompassing marketing, advertising and online promotion, including the Myer One loyalty program.
It comes as major shareholder Solomon Lew continues his attack on Myer’s board and senior leadership, criticising a lack of direct fashion experience, specifically Chairman Gary Hounsell.Making headlines today, Lew has urged Myer to release its first quarter sales results immediately, threatening legal action if its fails to keep investors informed.
Lew has continued his criticism of Chairman Hounsell, calling for his resignation, and a total board overhaul – filled with members with retail experience.
Tensions continue to run high ahead of Myer’s November 30 AGM, with Lew asserting Q1 sales results should be released early.
As previously reported, Mr Lew is urging Myer shareholders to vote against the retailers’ remuneration report, triggering a ‘second strike’ and spill of its board, during next month’s AGM.
The ‘second strike’ will come after Lew achieved a first strike against Myer at its AGM last year.
He asserts Myer shareholders are unlikely to receive dividends for an extended period of time, leaving banks in control should the retailer collapse into insolvency.
Lew blames Myer’s board for its tumbling share price, falling profits and sales, stemming from a lack of direct retail experience.