David Jones CEO and managing director Paul Zahra has resigned.
Zahra has advised David Jones' board of directors he intends to resign for personal reasons.
In a statement to shareholders, the department store said it has started a succession process involving an extensive national and international search.
David Jones stated Zahra would continue to lead the business and manage a smooth transition to new leadership which "could take some time".
The Board noted Zahra's contribution to the department store over the past fifteen years.
Zahra was promoted to CEO and managing director in June 2010, when David Jones was facing a range of financial and retail trading issues.
David Jones chairman Peter Mason credited Zahra for leading its Future Strategic Direction plan.
“Paul will leave David Jones in a solid financial position and I thank him for his contribution as CEO. I look forward to working with Paul to ensure a smooth transition of his role to his successor.”
Zahra also thanked the company for its support.
“David Jones is an amazing company and a brand I have always been proud to be part of. I am sincerely grateful for the opportunities I have had and believe that I have made a valuable contribution.
“Whilst much has been achieved and the company is well placed for the future, I believe it’s time for a change for me personally."
David Jones: 2013 campaign.
