DEPARTMENT store major Myer has made another board change with the appointment of luxury fashion label executive Julie Ann Morrison, following the announcement of deputy chairman Garry Hounsell taking over as chairman from Paul McClintock from the forthcoming annual general meeting.
Morrison will take up a non-executive director’s position and has previously been the managing director of Bulgari UK and Bulgari Australia, as well as managing director of FJB Australia.
She also been a non-executive director of Myer subsidiary boards, and in July was appointed non-executive chair of Myer’s specialty brands Australia, which offers governance and strategic oversight to sass & bide, Marcs and David Lawrence.
Morrison is also currently an advisory board member and consultant to Carla Zampatti Pty Ltd.
Myer announced last month it would close three department stores following a slump in profits and write downs from its failed investments in sass & bide and Topshop. The ongoing soft performance of the sass & bide label meant a $38.8 million hit to Myer.
The group is navigating an uncertain retail environment, which is set to be shaken up by the introduction of Amazon, and face a further hurdle with the debut of Debenhams down under in Melbourne next week.
It has also had to weather public critiques from its largest private shareholder, Stephen Copulos, and Solomon Lew, whose Premier Investment acquired a 10.8% stake in the group in March.
Australian Property Journal
