Business
The 11th hour coup: how Myer’s board got rolled – Sydney Morning Herald
Only hours before Myer’s virtual annual meeting was set to begin, chairman Garry Hounsell had no choice but to be counted as a no-show.
It’s game over at Myer. Chairman Garry Hounsell has left the building, figuratively speaking, and the remaining directors are certain to follow suit, given none have the support of the two major shareholders: Solomon Lew and Geoff Wilson.
Chief executive John King wont be forced to resign and will be encouraged to remain in the short term. But make no mistake, he has lost his management mandate to turn around the company.
Myer chairman Garry Hounsell announced his resignation ahead of the AGM.Credit:Eddie…
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