Myer • Garry Hounsell • Solomon Lew • Board of Directors (company) • Premier Investments Ltd.

Lew tells Myer board to resign or else after chairman's shock departure

Billionaire retailer Solomon Lew has told the directors of department store Myer to step down or face dismissal following the resignation of chairman Garry Hounsell just hours before the company's annual general meeting on Thursday.

Mr Lew said Mr Hounsell's departure was the "green shoot" that Myer shareholders had been waiting for and should signal to the company's remaining four board members that their "time is up".

"In the interests of all shareholders, we expect the remaining Myer directors will now indicate their intention to step aside in an orderly manner or face an extraordinary general meeting at which they will be certainly dismissed," he said.

Premier Investments chairman Solomon Lew has told the Myer board to step down or be dismissed.Credit:Eddie Jim

The Premier Investments chairman's comments followed the shock departure of Mr Hounsell on Thursday morning after it became evident Mr Lew and fund manager Geoff Wilson would not be voting for his re-election.

read://https_www.smh.com.au/?url=https%3A%2F%2Fwww.smh.com.au%2Fbusiness%2Fcompanies%2Fmyer-chairman-quits-after-losing-support-of-two-key-shareholders-20201029-p569nj.html

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