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.


SMS Code Sent…

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to activate your membership

If you didn't receive SMS code please

Log in to access this content

Looks you are already a member. Please enter your password to proceed

Hi {{ user.FirstName }}

Verify your mobile number to unlock a FREE trial

Looks like you've already taken a free trial

Please sign up for full access

Updating information

Please wait ...

Related Articles