- Prachi Singh |
Myer Holdings Limited has appointed John King as Chief Executive Officer and Managing Director.
Commenting on King’s appointment, Myer Executive Chairman, Garry Hounsell said in a statement: “John brings over thirty years of highly relevant retail experience across department stores, specialty retailing, premium global brands, wholesale apparel and discount retail. During his career, John has gained significant experience across all aspects of merchandise as well as store operations, e-commerce, sourcing and supply chain. John will bring a new perspective to Myer and has been given a full mandate by the board to deliver an improvement in financial performance.”
John King takes over as Myer CEO
Hounsell further said that John has also led the successful transformation at UK department store House of Fraser from 2006, culminating in a sale to Chinese conglomerate Sanpower in 2014. “Over the course of his tenure at the House of Fraser, John and his team consistently grew revenues, differentiated the product offering and launched a successful online business, improved EBITDA and reduced the company’s debt. They also refurbished more than 70 percent of the property portfolio and implemented a vision, values and culture program,” added Hounsell.
For the last three years, King has been living and working in the United States where he has consulted to a variety of US-based retailers and has been actively involved in a number of start-ups.
“I’m excited to lead this iconic Australian company, which like all global retailers, is facing significant change in both the retail environment and consumer shopping habits. I’m looking forward to the challenges and opportunities of this role,” said King, commenting on his new role at Myer.