The equation looks pretty simple for Myer chief executive John King and what’s left of the company’s board, which lost chairman Garry Hounsell just hours before its annual general meeting on Thursday, after Wilson Asset Management joined Premier Investments in voting against his re-election.

Get a good result out of the critical Black Friday and Christmas sales events and they’ll get a chance to push on with their slow and painful turnaround of the shrunken department store chain.