Investors Don't Want Paul Zahra To Leave David Jones

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Investors have reportedly approached the chairman of David Jones Peter Mason, asking if he could convince outgoing chief executive Paul Zahra to stay.

Looks like they were left disappointed though. Mason told the Australian Financial Review he could never try and convince someone who had publicly announced their resignation to stay on.

A number of Australian fund managers — who are invested in DJs — also said he should remain with the company to finish his turnaround strategy, which they think was just beginning to work.

DJs has been in the news a bit this week. Two of its directors bought shares days before sales data, which surprised on the upside, was released.

Plans for the retailer to shut larger stores in favour of smaller outlets in rich suburbs like Mosman and Toorak were also announced.

There’s more here.

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