Defenceless DJs’ dangerous board games

Boardroom departures are a major triumph for David Jones’ institutional agitators and leave the retailer more vulnerable than ever. The appointment of Zahra’s successor is pivotal.

The gutting of the David Jones board that was announced late yesterday has two major implications. The institutional campaign to force the board to retain its retiring chief executive, Paul Zahra, has ousted the retailer’s chairman and two other non-executives, and the Myer proposal to merge the two department stores is still alive.

The immediate resignation of Steve Vamos, to be followed by the departures of Leigh Clapham and the embattled chairman Peter Mason within three months, ends a two-month battle by institutional supporters of Zahra to impose their will on the company.

{{content.question}}

SMS Code Sent…

Hi {{ user.FirstName }}

Looks like you've already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to activate your membership

If you didn't receive SMS code please

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device


Verify your mobile number to unlock a FREE trial

Please sign up for full access

Updating information

Please wait ...

  • Mastercard
  • Visa

Related Articles