Myer Adds IT Specialist To Board Ahead Of AGM
Myer has appointed IT businesswoman, Lyndsey Cattermole AM, to its board as Non-Executive Director, in a bid to enhance its “multi-channel offering” and internal operations.
The news comes amid continued criticism from major shareholder, Solomon Lew, calling for a total overhaul of Myer’s Board, citing declining sales, revenue and a plummeting share price.
Lew is tipped to be preparing an assault on Myer’s Board, after requesting the latest copy of its share register, ahead of Myer’s AGM in November.
Primary criticism surrounds board members’ lack of direct retail fashion experience, specifically Chairman Gary Hounsell.
Mr Hounsell claims Cattermole’s significant board experience (e.g. Foster’s Group, Treasury Wine Estates, Tatts Group and Victorian Major Events Corp) and IT skills will benefit Myer’s leadership.
Cattermole is also a director of Pact Group Holdings, Florey Neurosciences, PlayersVoice and the Melbourne Rebels.
She is credited with building IT firm Aspect Computing for over thirty years, before its sale to ASX listed KAZ Group, taking a role as KAZ Non-Executive Director.
“Aspect Computing specialised in IT consulting, program development and product development, including retail and training,” remarks Hounsell.
Cattermole has also been awarded an Order of Australia (AM) for significant community involvement (e.g. ten years with the Royal Children’s Hospital Foundation and Chairman of Women’s and Children’s Health Care Network).
Despite her notable achievements, some commentators question Cattermole’s lack of direct retail fashion experience, alleging it may infuriate Solomon Lew further.