David Jones chairman Peter Mason is reported to be looking at a board shake-up by replacing two directors.
This follows controversial share trades last year which brought shareholder anger over the retailer’s corporate governance.
The Australian Financial Review reports Mr Mason is considering a plan to replace non-executive directors Leigh Clapham and Steve Vamos.
These two last year bought David Jones shares a day after the board received a $3 billion merger proposal from rival Myer and three days before the group released better-than-expected quarterly sales figures.
The Financial Review says Mr Mason has discussed the removal of the two directors with institutional investors.
Mr Mason has been a David Jones director since late 2007 and assumed the chairman’s job a year ago.