Can Richard Umbers be the turnaround man Myer most desperately needs? With David Jones on a tear and Myer’s share price a third of what it was when it listed in 2009, something dramatic needs to happen.
The first quarter results contained some promising signs that Umbers, who has been in the CEO’s chair since March, is getting some traction with his new strategy.
Umbers has a strong pedigree in UK retailing but getting staff, executives and investors on board will be critical. In the latest segment in Perpetual’s Performance with Purpose series, the Australian’s Alan Kohler sat down with the Myer CEO to ask him what values he must communicate to maintain company-wide momentum.