Myer Amps Up Leadership Team With UK Hire
With Myer’s new CEO taking the reins early June, the department store has been shuffling its executive positions with a new chief merchandising officer, Allan Winstanley.
Winstanley has worked with Myer’s new CEO John King at UK retailer House of Fraser between 2006 and 2014 with Myer stating they were both ‘part of the store’s successful turnaround’.
Gary Hounsell, executive chairman at Myer says, “I am delighted to announce the appointment of such a high calibre executive to oversee Myer’s merchandise buying and planning.
“Allan’s career history spans a number of well-known department store retailers including House of Fraser, De Bijenkorf, part of the Selfridges Group, Moss Bros Group and in more recent times, Sears and Kmart in the USA.”
The company appointed John King late April after the firing of Richard Umbers in February. King will begin his tenure from June 4. Winstanley will begin July 2.
Myer has been struggling of late with its market value is currently around $360 million – a significant decrease from $2.3 billion just under a decade ago.
LA based Oaktree Capital Management is considering buying Myer at cheap price if the company enters voluntary administration.