Business
Still room for improvement on Myer’s board despite cuts, says Wilson – Sydney Morning Herald
The department store chain has agreed to cut its board of directors by two and slash its board fees in response to pressure from its second-largest shareholder, Geoff Wilson.
However, on Wednesday the veteran stockpicker told The Age and The Sydney Morning Herald he planned to go back to Myer’s management to get further clarity on the quantum of fee reductions comparative to other companies of a similar capitalisation.
He also noted there was room in the company’s constitution for the board to potentially cut another director. “Their constitution means they have to have…
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