Embattled department store chain Myer has hired a senior British department store retailer, former House of Fraser chief executive John King, as its new chief executive.
Mr King, 55, takes the helm from Richard Umbers, who was forced to step down with immediate effect in February after unveiling Myer’s third profit downgrade in less than a year.
Myer chairman Garry Hounsell, who took the executive reins after Mr Umbers’ departure, announced Mr King’s appointment on Monday after interviewing candidates in the UK over the last few weeks.
Mr Hounsell said Mr King, who started his retail career at department store chain Sainsbury’s in the 1980s and ran clothing and homewares chain Matalan for three years until 2006, would bring …
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