Myer has appointed chief merchandising and marketing director Daniel Bracken, as deputy CEO, amid a senior management reshuffle as CEO Bernie Brookes steps down.
Richard Umbers, currently chief information and supply chain officer, has been appointed chief executive officer and managing director. The changes are effective immediately but Brookes will stay on in an advisory capacity for two months.
Brookes has been CEO for eight years and recently appointed a raft of senior marketers after an extended period where Myer had no senior marketer. Bracken was appointed in June last year and former Simplot CMO Tara Lordsmith was appointed GM of marketing in December.
Umbers is tasked with leading a “significant program of change and reinvigoration” as Myer vies to meet the expectations of customers and adapt faster to the evolving retail landscape.
Myer chairman, Paul McClintock AO, said: “It has become clear that to thrive in a modern retail environment, Myer must adapt more quickly and be closer to its customers. A strategic review has been ongoing for some time, with a view to reshaping the business for a profitable, sustainable future. The addition of highly experienced executives last year has brought a broad range of perspectives to the strategic review. Based on this work it has become evident that a transformation project of the scale required to achieve the board’s vision will take a number of years to implement.
“The board and management team have agreed that the transformation work has reached a pivotal point and it is appropriate for a new CEO to be given the opportunity to own, lead and drive the transformation program over the coming years.”
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