The management shuffle at department store David Jones continues, as the company announces another resignation and a new appointment.
Non-executive director Katie Lahey has relinquished her position at David Jones, with effect from Monday June 25 2012, with Steve Vamos to join the board as a non-executive director of the company today.
Going forward, David Jones confirmed that it is intended that Vamos will stand for election as a director at the company's annual general meeting on November 23 2012.
Vamos, who is currently a non executive director of both Telstra Corporation and Medibank Private, was appointed following a thorough search and an external third party review of the board composition.
According to David Jones chairman Robert Savage, Vamos' appointment is also part of the David Jones Board Renewal Program, which will see “the composition and skill set of board members better reflecting the strategic direction of the company”.
“Steve's appointment to the David Jones board represents the first step in implementing our Board Renewal Program. Steve has extensive experience in technology and e-commerce markets, which provide him with a unique skill set that fits in well with David Jones' strategy of investing in technology and transforming itself into an omni-channel retailer,” he said.
“The board and I believe that Mr Vamos will add a complementary skill set to the David Jones board which will be very valuable as the company continues to implement its new strategic direction.”
Commenting on Lahey's departure from the David Jones fold, Savage said:
“I would like to thank Katie for her service on the David Jones board and her valuable contribution over this time. Katie has been on the board since the public float of David Jones in 1995 and was one of the first female directors on an Australian public company board.
“Over this period Katie has been involved in all of the company's strategic initiatives including the company's recently announced future strategic direction. Katie has a wide business background in marketing and brands. Her CEO experience has been particularly valuable to the company in her capacity as a member of the Remuneration and Nominations Committee and her involvement in strengthening the company's HR practices and procedures over the past two years. On behalf of the board and the company we wish Katie all the best in her future endeavours.”