She will assume the role of executive chairwoman at the Solomon Lew-backed retailer, which also announced a fall in its interim net profit on Thursday.
Myer’s head of stores, Tony Sutton, has been elevated to chief operating officer.Former Qantas executive Olivia Wirth has been appointed to run Myer, with the department store’s chairman, Ari Mervis, exiting after just four months.
Ms Wirth ran Qantas Loyalty until earlier this year, but missed out at the top job at the national carrier after Alan Joyce’s departure as chief executive.Ms Wirth and long-time investor Gary Weiss joined the Myer board in October. They are supported by Solomon Lew, the billionaire retailer who controls nearly 29 per cent of Myer through Premier Investments.
Mr Lew has been agitating for better returns from Myer and holds a board seat. Mr Mervis was only appointed to the chairmanship in November following the exit of JoAnne Stephenson. However, sources said, Mr Lew was not impressed with his chief executive succession planning. From June 4, Ms Wirth’s salary will be $1.25 million per annum, including superannuation. She will receive $250,000 between now and then. She will participate in short-term and long-term incentives programs from 2025 onwards.Mr Sutton oversees all the operations of the national store network. He joined Myer in 1992 and worked in a number of senior roles including regional management, merchandise, and marketing.
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