David Jones board says CEO is safe

The board of retail giant David Jones’ (ASX:DJS) has moved to quash speculation that chief executive Paul Zahra could be on the way out.

The company entered a trading halt yesterday, saying it needed to consider its “strategic plan” ahead of the release of its latest financial results on Wednesday.

It has been reported that the company will reveal losses concerned with its store credit card.

But David Jones chairman Robert Savage has moved to dismiss suggestions Zahra could be a casualty.

“David Jones CEO Paul Zahra has the full and unwavering support of the board and we look forward to him implementing the future strategic direction of the company which will be announced to the market tomorrow,” Savage told Dow Jones Newswires in a statement.

 

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