Top investor in Australia s Myer kicks off board reshuffle talks with shareholders
07/09/2021 3:46
(Reuters) -Myer Holdings top shareholder Premier Investments said on Friday it has begun talks with fellow shareholders to revamp the company s board, after raising its stake in the high-street retailer.
Premier reaffirmed its demand that the Myer s entire board should resign immediately, sparing the chief executive John King. Any other action would be futile, and costly for Myer shareholders who have endured enough, Premier said in a statement.
Including King, Myer s board currently has four members – acting chairman JoAnne Stephenson and two non-executive directors.
The top investor said it has also hired a proxy solicitation firm and is trying to procure a copy of Myer s shareholder register ahead of calling an extraordinary general meeting.
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