Retail giant David Jones is seeking a new CEO to replace Paul Zahra, who today revealed plans to resign after three years in the job for personal reasons.
Zahra has been at David Jones for 15 years. He will continue to work at the company until a successor takes over, investors were advised after the market closed today.
David Jones credited Zahra for leading it through a challenging retail environment in the aftermath of the GFC.
Zahra replaced Mark McInnes as CEO in June 2010, with a base salary of $1.3 million, short-term bonus of $650,000 – $1.625 million and up to 500,000 rights under the retailer’s long-term incentive scheme.
“David Jones is an amazing company and a brand I have always been proud to be a part of,” Zahra stated.
“Whilst much has been achieved and the company is well placed for the future, I believe it’s time for a change for me personally.”
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