Myer 's chief Information Officer Richard was promoted to CEO . Bernie Brookes has stepped down after eight years at the top . In 2018 Myer 's share prices dropped 19 per cent . Threats to the business are said to include new investors in the market . The falling Australian dollar and operating costs are also said to be to blame . ' Myer will adapt more quickly and be closer to its customers , ' Myer Chairman Mr Paul McClintock said .
Myer 's Chief Information Officer Richard Umbers promoted to CEO . Bernie Brookes has stepped down after eight years at the top . In 2014 Myer 's share prices dropped 19 per cent . Threats to the business are said to include new competition in the market . The falling Australian dollar and rising costs are also said to be to blame . 'Myer must adapt more quickly and be closer to its customers , ' Myer Chairman Mr Paul McClintock said .