Solomon Lew’s Premier Investments, the owner of some of Australia’s most-well known retail brands, has announced the surprise exit of its CEO while confirming it is contemplating a demerger.
The operator of Smiggle and Peter Alexander is reviewing its corporate structure as it considers a potential breakup of its businesses after announcing the surprise exit of chief executive Richard Murray.
Murray has resigned from his role and will leave the business on September 15, before Premier’s full-year financial results announcement. Long-serving chief financial officer John Bryce will become interim chief executive. Premier highlighted the significant global growth opportunities on offer for its Peter Alexander and Smiggle businesses when discussing the review.“Peter Alexander’s sales have more than doubled from five years ago and the brand has identified significant growth opportunities for new and/or larger formats and planned offshore market expansion,” the company said in a statement to the ASX.Smiggle could end up sitting separate to Premier Investments once the review is completed.
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