The department store chain has agreed to cut its board of directors by two and slash its board fees in response to pressure from its second-largest shareholder,Geoff Wilson.
The second-largest shareholder in struggling department store Myer has told the company's chairman to permanently reduce its number of directors and slash their fees.
High profile fund manager Geoff Wilson is in his element. As the second-largest shareholder in besieged department store group Myer,he has literally become the kingmaker.
It's game on as Solomon Lew's anti-Myer campaign awakens from its year-long hibernation and rages into battle again.
The billionaire retailer has slammed the board of beleaguered department store Myer after the department store posted a massive $172 million loss.
The COVID-19 crisis is accelerating trends in the retail sector that will force retailers and their landlords to develop new relationships - whether they like it or not.
The gloves have come off in a spat between retail tycoon Solomon Lew and landlord Sam Tarascio jnr.
Premier's Solomon Lew has been able to game the government support package beautifully,and legally.
Premier Investments says it is on track to book a record full-year profit on the back of strong online sales and tens of millions of dollars in JobKeeper subsidies.
"People who never had to buy online and never would have considered it now have no choice.”
Billionaire retailer Solomon Lew has hit out against new limits on retail trade in Victoria,accusing the Andrews government of causing unnecessary damage to the economy.