One of Australia’s most promising corporate bromances is over, with Richard Murray departing as chief executive of Solomon Lew’s Premier Investments, less than two years after Murray started at the retail giant.

But the shock departure could be just the start of a period of dramatic change for Lew’s empire. The billionaire is considering splitting Premier into four separate companies by demerging sleepwear chain Peter Alexander, kids’ stationery shop Smiggle and Premier’s remaining retail brands, including Just Jeans, Portman and Jacqui-E.