Department store Myer has announced a string of management changes, as it prepares to farewell its chairman.
The company, which announced a range of staff cuts in July, has now confirmed its current chairman Howard McDonald will retire from the board in October.
McDonald will be replaced as chairman-elect of the company at this time by Paul McClintock, who has also will also juggle a role as non-executive director for Myer.
McClintock, who has previously held chairman and advisory positions across a broad range of industries, is also currently chairman of Medibank Private Limited, COAG Reform Council, Thales Australia, I-Med Network and the Institute of Virology. He is also a director of Perpetual Limited.
However, Myer confirmed McClintock has since announced his intention to retire as chairman of the COAG Reform Council and director of Perpetual Limited in order to enable him to take up the new appointment.
McClintock will be supported in his new role as chairman by Rupert Myer, who has been named as as deputy chairman of Myer, following his initial appointment to the board as a member in 2006.
Commenting on his plans to depart the company, McDonald said the timing of his decision follows the extension of the contract of Myer CEO and managing director, Bernie Brookes, through until August 2014.
“The board and I share a desire to ensure continuity of leadership over the period to that date and beyond,” he said.
In a statement today, Myer CEO Bernie Brookes acknowledged McDonald’s contribution to Myer over the past six years, in particular his three years as chairman.
“The entire board and I are grateful for Howard’s counsel and retail experience over the years and for his commitment to management’s execution of the Myer strategy,” he said.
“I am looking forward to continuing to work with the board and Paul McClintock to deliver on our strategy for shareholders, and to meet our customer’s expectations of us on service, brands and range.”
In addition to these two appointments, Myer also announced today the appointment of Ian Morrice, former group CEO and managing director of The Warehouse Group Limited (NZ), as non-executive director, effective immediately.
Morrice is currently also a non-executive director of Metcash Limited and an adviser to the board of the Spotlight group of companies.