Brookes fans the Myer merger flame

Myer's reappointment of Bernie Brookes as chief executive suggests its merger proposal isn't dead yet, and may even find a receptive audience in a reshuffled DJs board and unhappy institutional investors.

The reappointment of Bernie Brookes as Myer’s chief executive is a very pointed signal to David Jones and the market that Myer’s ambition of merging with its department store rival hasn’t been extinguished by the initial rejection of its ‘merger of equals’ proposal.

Brookes had been scheduled to retire by August, with Myer conducting an international search for his successor. That plan, however, had to be revisited after Myer decided to approach David Jones last year with its proposed nil-premium merger.



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