Major David Jones shareholder, Allan Gray, and other investors have had their concerns put at eased by chairman Peter Mason, after it was speculated that Paul Zahra had been forced out of the company.
Following a meeting with the DJs board this week, Allan Gray, which holds a 5.2% share, is satisfied that Zahra had made decision as a career move and that no foul play was involved.
“Paul is doing this and we are comfortable with that. There is no rational reason why shareholders should get in the way of somebody’s career decision. We respect his decision. The company needs to now move forward without him,” Allan Gray portfolio manager, Simon Mawhinney, told The Financial Review.
Mason will meet with shareholders this week ahead of the company’s annual meeting on November 22.
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