David Jones Appoint New CEO After Eight Month Search
Woolworths Holdings owned department store David Jones has appointed former Country Road Group boss, Scott Fyfe, as its new CEO, ceasing an eight-month recruitment search.
Mt Fyfe is set to replace interim-CEO, Ian Moir, on October 26 following a handover period. Moir will leave the company in November, after over twenty years with Woolworths Holdings.
Fyfe is recognised for being a key driver of Country Road Group’s online strategy, which commentators speculate will be harnessed as he pursues the turnaround of David Jones.
With a long-running career in retail management, Fyfe has overseen brands such as Mimco, Trenery and Politix, and has tenure with UK outlet Marks & Spencer.
David Jones has continued to battle the hardships of local retail condition, now worth less than half of its $2.1 billion price tag, when purchased by Woolworths Holdings in 2014.
The department store has continued to report significant writedowns and profit slumps.
The coronavirus pandemic has seen David Jones accelerate plans to shrink around 20% of its store network by 2025, recently reporting $33 million loss.