SYDNEY—A week after its $2 billion takeover of David Jones, South Africa’s Woolworths Holdings Limited has announced an executive reshuffle at the Australian department store chain.
Ian Nairn, chief executive officer of Australian mid market fashion chain and Woolworths subsidairy Country Road, will be the new ceo at David Jones. He replaces Paul Zahra, who is stepping down immediately after four years at the helm.
Country Road chief operating officer David Thomas will take up the COO role at David Jones, while Witchery managing director Matt Keogh has been appointed the new CEO of Country Road. Witchery is another brand in the Woolworths-owned Country Road Group.
“The new management team will complement the existing skills and expertise at David Jones to create a strong, innovative and fashion-centric business,” said Woolworths chief executive officer Ian Moir.
“David Jones is an iconic Australian business with great traditions and values and we look forward to taking it to the next level.”
Woolworths’ previously-announced transformation strategy for David Jones – which Woolworths expects will deliver synergies of at least 130 million Australian dollars or $121 million at current exchange within five years – includes ramping up private label merchandise and omnichannel initiatives and loyalty program improvements.
Woolworths’ 2.2 billion Australian dollar or $2 billion takeover of David Jones Ltd was completed on Aug. 1.