‘They must go’: Billionaire businessman calls on shareholders to boot Myer board
Billionaire businessman Solomon Lew has called on Myer shareholders to boot the struggling retailer’s board.
Mr Lew is Myer’s biggest individual shareholder, owning 10 per cent of the company.
The department chain has suffered serious woes, recording a full-year loss of nearly half a billion dollars.
Just last week their shares plummeted following a forced admission of another fall in sales.
Mr Lew has been openly critical of the company’s board and has previously called for Chairman Garry Hounsell to step down over the dismal results.
Ahead of their annual general meeting next Friday, the prominent businessman joined Alan Jones, calling on shareholders to “save Myer before it’s too late”.
Mr Lew says if they can’t get to the meeting in person, they can still have their say.
“Our current board just isn’t up to the task, and the shareholders must give them a message. They must go.”
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