David Jones has lost yet another management head, with non-executive director and deputy chairman John Coates calling it quits.
Coates, who has worked at the company for 17 years, is also a member of the International Olympic committee (IOC) executive board and president of the worldwide Court of Arbitration for Sport.
He cited “increasing commitment overseas”as the reason for his resignation from David Jones, and will relinquish his role immediately.
In his place, Peter Mason has been appointed to the position of deputy chairman.
David Jones chairman Robert Savage said Mason would be a welcome addition to the team and thanked Coates for his service over the years.
“On behalf of the board, management and shareholders I would like to thank John for his 17 years of service as a non-executive director of David Jones,” he said.
“More recently John has seen the company through the development of its future strategic direction announced to the market on March 21 2012. John has played a key role in many of the company’s initiatives over the years especially its property strategy as chair of the property committee. We wish John all the best in his future endeavours.”