Myer’s executive clearance carries a $2.5m price tag

Original article by Eli Greenblat
The Australian – Page: 21 : 26-Oct-18

Myer CEO John King has told shareholders in its latest annual report that he will spend at least two days a week in its stores. King joined the department store chain in June, since which time he has cut at least 30 staff from its management ranks. Myer’s annual report reveals that its recent culling of senior executives, which included former CEO Richard Umbers and CFO Grant Davenport, has cost it over $2.65 million in termination and other payments.

CORPORATES
MYER HOLDINGS LIMITED – ASX MYR, PREMIER INVESTMENTS LIMITED – ASX PMV

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