Myer has announced that John King has been appointed as CEO and MD.
Myer executive chairman Garry Hounsell said the appointment follows an extensive international search.
“John brings over thirty years of highly relevant retail experience across department stores, specialty retailing, premium global brands, wholesale apparel and discount retail.
“During his career, John has gained significant experience across all aspects of merchandise as well as store operations, e-commerce, sourcing and supply chain.
“John will bring a new perspective to Myer and has been given a full mandate by the Board to deliver an improvement in financial performance,” Hounsell said.
Hounsell said John is a highly experienced retail executive who led the successful transformation at UK Department Store House of Fraser from 2006, culminating in a sale to Chinese conglomerate Sanpower in 2014.
“Over the course of his tenure at the House of Fraser, John and his team consistently grew revenues, differentiated the product offering and launched a successful online business, improved EBITDA and reduced the company’s debt.
"They also refurbished more than 70 percent of the property portfolio and implemented a vision, values and culture program.
“John understands fashion retailing and customers, particularly at department stores.
"He is an excellent candidate to lead Myer and I look forward to working with him to unlock the Company’s significant potential and deliver shareholder value."
King welcomed his appointment.
“I’m excited to lead this iconic Australian company, which like all global retailers, is facing significant change in both the retail environment and consumer shopping habits. I’m looking forward to the challenges and opportunities of this role.”
For the last three years, King has been living and working in the United States where he has consulted to a variety of US-based retailers and has been actively involved in a number of start-ups.
King will commence work at Myer subject to receiving appropriate visa approval and he will be based in Melbourne.