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AUSTRALIA'S MYER FAMILY CO SUPPORTS COLES MYER CHAIRMAN, CEO.
MELBOURNE, Nov 1 Asia Pulse - The Myer Family Company has announced that it is backing chairman Rick Allert and chief executive John Fletcher, making Solomon Lew's attempts to stay on the Coles Myer Ltd (ASX:CML) board that much harder.
Myer family spokesman Carrillo Gantner said the family will be directing its proxy votes to Mr Allert and instructing him to vote against all nominating candidates for director at next month's annual general meeting.
Mr Allert is one of eight directors who believe Mr Lew should not be re-elected after 17 years on the board.
Mr Lew is believed to be spending around A$10 million (US$5.55 million) in an advertising campaign, direct mailing and phone polling to convince shareholders to back him at the AGM.
He has spent more than A$100 million in buying shares and options to use in a voting bloc at the November 20 meeting as the biggest shareholder.
This week Mr Fletcher threatened to quit if Mr Lew is re-elected while Mr Lew responded by saying the chief executive is a significant impediment to the Coles Myer turnaround.
Mr Carillo said in a statement that the Myer family, which holds around five per cent of Coles Myer, regrets that the current situation has been allowed to arise.
- WRAP- Myer family moves against Lew over Coles Myer (UPDATE).
- News wire article from: Asia Africa Intelligence Wire October 31, 2002 700+ words
...impediment to the Coles Myer turnaround. Mr...statement that the Myer family, which holds around five per cent of Coles Myer, regrets that...support of all Coles Myer's shareholders...not anticipated Myer family support." He...
- Myer family moves against Lew in bitter campaign.
- News wire article from: Asia Africa Intelligence Wire October 31, 2002 700+ words
...struggle to stay on the Coles Myer Ltd board looked...announcement that the Myer Family Company is backing...impediment to the Coles Myer turnaround. The Myer family, which holds around five per cent of Coles Myer, said it wanted...
- WRAP - Myer family moves against Lew amid bitter campaign.
- News wire article from: Asia Africa Intelligence Wire October 31, 2002 700+ words
...struggle to stay on the Coles Myer Ltd board looked...announcement that the Myer Family Company is backing...impediment to the Coles Myer turnaround. The Myer family, which holds around five per cent of Coles Myer, said it wanted...
- The Daily Telegraph (Australia): Coles Myer's Allert: rival makes move as Lew...
- News wire article from: Asia Africa Intelligence Wire October 9, 2002 700+ words
...bought up to $A100 million of Coles Myer shares within a week, taking...him the largest shareholder in Coles Myer, with the Myer family and Maple-Brown Abbott each...October 2002. On 8 October 2002, Coles Myer shares stayed stable at $A6...
- Myer family dumps Lew, Leibler.
- News wire article from: Asia Africa Intelligence Wire November 1, 2002 700+ words
...Wood On 31 October 2002, the Myer family declared that they will oppose the re-election of two Coles Myer directors. The Myer Family Corporation, which owns 5...it would vest its proxy with Coles Myer chairman, Rick Allert, and...
- The Myer family turns its back on Lew and Leibler.
- News wire article from: Asia Africa Intelligence Wire November 1, 2002 700+ words
...Wood On 31 October 2002, the Myer family declared that they will oppose the re-election of two Coles Myer directors. The Myer Family Corporation, which owns 5...it would vest its proxy with Coles Myer chairman, Rick Allert, and...
- Coles Myer tipped to announce Myer sale.
- News wire article from: Bulletin Wire March 12, 2006 700+ words
...A spokesman for Coles Myer was unavailable while a spokesman for the Myer family declined to comment...merged to become Coles Myer Ltd in 1985. The Myer family holds around a five per cent stake in Coles Myer and Martyn Myer...
- MYER DEPT STORE TRANSFERS TO NEWBRIDGE CAPITAL, MYER FAMILY.
- News wire article from: AsiaPulse News June 2, 2006 700+ words
...owners Newbridge Capital and the Myer Family. Coles Myer (ASX:CML) chief executive...department store icon and enabling Coles Myer to realise the value of the business." Mr Fletcher said Coles Myer's profit on the sale after...
- Myer family moves against Lew amid bitter campaign.
- News wire article from: Asia Africa Intelligence Wire October 31, 2002 700+ words
...impediment to the Coles Myer turnaround. Mr...statement that the Myer family, which holds around five per cent of Coles Myer, regrets that...support of all Coles Myer's shareholders...not anticipated Myer family support." He...
- Myer stores set to return to Myer family.
- News wire article from: Bulletin Wire March 10, 2006 700+ words
...the arms of the Myer family in a $900 million...over reports that Coles Myer Ltd will sell its...Reports said the Coles Myer board had officially...Newbridge Capital/Myer family bid as "preferred bidder". Coles Myer said early on Friday...
Source: HighBeam Research, AUSTRALIA'S MYER FAMILY CO SUPPORTS COLES MYER CHAIRMAN, CEO.