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Myer to transform retail business, appoints new CEO

RBR Staff Writer Published 03 March 2015

Australian department store chain Myer is planning to improve its operational performance by making certain changes in order to meet current and target customers' requirements.

Mayr

Myer's current CEO Bernie Brookes is being replaced by the current chief information and supply chain officer Richard Umbers, who will lead the company's strategy of change and reinvigoration.

Umbers will be Myer's new CEO and managing director, effective immediately.

Myer claims that the company has to adapt more quickly and be closer to its customers, in order to flourish in a modern retail environment.

A strategic review is currently underway, with a view to reshaping the business for a profitable, sustainable future, the company said.

The company is considering various factors such as the impact of major international brands launched into the Australian market and a regulatory backdrop which has led to increased operating costs, to implement its new strategy.

Commenting on the appointment of new CEO, Myer chairman Paul McClintock AO said: "The Board and management team have agreed that the transformation work has reached a pivotal point and it is appropriate for a new CEO to be given the opportunity to own, lead and drive the transformation program over the coming years.

"Already in his time at Myer, Richard has demonstrated that he is a contemporary retailer with the clear ability to reshape Myer in a new retail landscape. He has broad international experience across the retail sector and, importantly, success in leading business transformation. Richard heads up a highly experienced executive team with strong international and fashion credentials."

Myer has named Daniel Bracken as deputy CEO in addition to his current role as chief merchandise and marketing officer.


Image: Myer's new CEO and managing director Richard Umbers. Photo: courtesy of Myer Holdings Ltd.