ctual or potential conflicts of interest.  McCartney is also a director at Premier Investments and its subsidiary The Just Group, which runs Just Jeans, Smiggle, Portman’s and Peter Alexander. Lew had been urging shareholders to support McCartney’s nomination. Myer chairman JoAnne Stephenson said that it acknowledged the deep experience and expertise of McCartney, and that conflicts of interest, actual or perceived, could be managed within its policies.  The board faced questions about using proxy firms to encourage investors to vote a certain way, as per the Australian Financial Review. Stephenson, who was re-elected along with non-executive director Jacquie Naylor, responded by saying that these communications referred to board recommendations. Following his appointment, McCartney said that he has more than 40 years of experience working across the full spectrum of retailing. “I’m committed to working in a collaborative and cohesive manner with the Myer board, and will take my fiduciary duties very seriously,” he said.  He added that King and the team have brought Myer back to life. “I’m [coming in] because I want to listen to the team, and add my value to that plan going forward,” he said. “I see this as a business that’s found its legs again.” Outperforming our competitors Myer’s AGM follows a number of highlights for the company. It achieved total sales growth in FY22 of 12.5 per cent, with comparable store sales growth of 15 per cent. The company’s group online sales grew 34 per cent, to $722.8 million, while its net profit rose by over 100 per cent compared to the last financial year, excluding JobKeeper support, to $60.2 million. It has also achieved its best start to the financial year for over 20 years, with quarter one delivering a 52.8 per cent increase in sales. Myer’s FY22 total dividend to shareholders was four cents per share. Chief executive John King said that Myer emerged from the pandemic with a better, stronger and more agile business. He added that the company’s online and in-store market share growth of 38 per cent outpaced brands like David Jones and Catch, while its home category growth of 53 per cent surpassed the growth of Temple & Webster and Adairs. The company’s Myer One program saw 593,000 new members in the last financial year, with over 65 per cent of those registered in the 18-34 demographic. King believes that the new national distribution centre – which is expected to be operational in 2024 – is a great example of how Myer is modernising for future growth. He added that the customer-first plan, which includes improved in-store experiences, strategic store refurbishments, and a reduction in floor space –with 11 per cent reduced since 2018 – has led to Myer being “well on its way to $1 billion in annual revenue.” “While we believe there is significant uncertainty [in the] economic outlook, [our] performance gives us confidence leading into the all-important Christmas trading period, particularly given the strength of our multi-channel offering,” he said. Not on our ‘to do’ list Answering questions from stakeholders, King said that Myer wouldn’t rule out adding more debt in the future. But he added that the current plan is to “batten down the hatches, and sail through whatever comes next,” over the next 12-18 months. Concerning Myer’s 2021 store closure in Knox, King said it was in discussions with the shopping centre for about four years. It wanted to downsize on a reduced rent, but the lease finished without a resolution to negotiations, so it had to move on. He explained that the majority of its team members were relocated to different stores and, if the commercial conditions were right, it would consider re-entry. Following recent cyber attacks on companies including Optus and Medibank, Stephenson said that Myer’s security systems are being reviewed.  “We use some of the best outsource providers in terms of that security perimeter. We have a different set of information, to the information that’s become vulnerable in the market,” she said. Regarding speculation about Myer purchasing David Jones, she said that it’s not on the to-do list. “We are focused on continuing execution and delivery of the customer-first plan,” she said. It’s gaining momentum and it’s enabled us to return to dividends for shareholders.”