Embattled retailer Myer has forced out underperforming CEO Richard Umbers but this has failed to placate its biggest shareholder, Solomon Lew, who has repeated his call for a complete boardroom cleanout. Mr Umbers’ departure – after three years at the helm of Myer – was announced on Wednesday by chairman Garry Hounsell, who indicated his displeasure with a continuing string of poor sales results and profit warnings.
Name: Richard Umbers
New Company: Kaufland
Announcement Date: February 13, 2018, 11:00pm
Resignation Date: February 13, 2018, 11:00pm