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Myer announces retirement of two non-executive directors

By Prachi Singh

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Business

Myer Holdings Limited has announced that non-executive directors Lyndsey Cattermole AM and Julie Ann Morrison have decided to retire at the 2020 annual general meeting, and do not intend to seek re-election. The company said in a statement that with a view to further reducing board costs, Myer will not be seeking to replace these positions.

Commenting on the development, Myer’s Chairman, Garry Hounsell, said: “We have been considering the size of our board for some time. Following the decisions of both Lyndsey and Julie Ann to retire at the upcoming annual general meeting, the board will be reduced to five directors, including the CEO and managing director.”

“During the past three years, the chairman and non-executive director fees have been reduced on several occasions. The decision to forego director fees for a period in April, and to receive reduced fees during May and June were absolutely appropriate and today’s announcement of a smaller board, reflects the size of the business, our ongoing focus on costs and the current operating environment,” Hounsell added.

Picture:Facebook/Myer

julie ann morrison
lyndsey cattermole
Myer