Business
Myer shrinks board, cuts directors fees – The Australian Financial Review
Myer has moved quickly to appease fund manager Geoff Wilson, announcing the retirement of two directors and a reduction in directors’ fees.
This followed a 16.7 per cent reduction in directors fees in 2020 because of the coronavirus pandemic. It is the third reduction in chairman and non-executive director fees since 2018. These reduced fees will remain in place for at least two years.
Replying to Mr Wilson, Mr Hounsell said the reduction in the size of the board had been under consideration for some time.
“The Myer board is extremely mindful of minimising board and other costs, and the board size must reflect the size of the busi…
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