Department store David Jones is on the brink of a new age, as chairman Robert Savage prepares to step down after 13 years with the company.
Savage, who has served as chairman for nine years and as a non-executive director for David Jones for the past 13 years, is set to retire from his duties, effective as of December 31, 2012.
Advising the board of his intended retirement, Savage said he believed he was leaving the company on a high.
“After careful consideration I have decided that now is an appropriate time for me to retire as chairman and as a non-executive member of the board,” he said.
“Having served as chairman for nine years and as a non-executive director for the past 13 years I believe that I am leaving the company and the board in excellent shape.”
David Jones deputy chairman Peter Mason also thanked Savage for his work at the company.
“Robert has seen the company through the successful transition of Paul Zahra as CEO and managing director and the renewal of the senior management team. He has overseen the development of the company's Future Strategic Direction Plan announced to the market in March 2012 and has played a key role in many of the company's initiatives over the years,” he said.
“In particular, Robert has overseen the recent board renewal process including the appointment of two new directors; Steve Vamos and Jane Harvey, following the retirement of a number of long serving directors, namely; Katie Lahey, John Coates, Stephen Goddard and Reg Clairs all of whom retired during the year.
“We wish Robert all the best in his future endeavours, [and] I believe the company is in an excellent position to deliver on its strategy with a stable management team and experienced directors to provide the company with valuable oversight and direction.”
The board has elected Peter Mason to the position of chairman following Savage's retirement coming into effect.
According to the company, Mason has previously worked as a professional director and has a breadth of experience, which includes the role of chairman of AMP Limited and a non-executive director of Singapore Telecommunications Limited.
David Jones also confirmed that Mason will continue the company's ongoing board renewal process.