Mega Ozzie retailer David Jones’ CEO Ian Nairn has up and left the company in a move that has left those in the know scratching their heads.
Nairn took the post a year ago and has now left “in mysterious and unexplained circumstances”, something of interest to us down here in SA because the department store had just been taken over by our own Woolworths Holdings.
Woolworths bought David Jones last August for $2,2 billion and Nairn had been lauded for his astute business decisions. Here’s Business Insider:
Nairn was credited with turning around the struggling business after announcing last month a 28.8% jump in operating profit to $161 million in 11 months ended June 30, with sale for the first half od 2015 up 10.7%, the best growth in several years. DJs growth was double the figure of its now flagging rival Myer.
It seems like something must be going on behind the scenes as Nairn was obviously succeeding in turning around the fortunes of the 177-year-old retailer.
Maybe he just couldn’t handle taking his orders from a Saffer.
[source:businessinsider]
