David Jones CEO, David Thomas, has reportedly resigned after 18 months, citing personal reasons.
Reported by The Australian and The Daily Telegraph, the shock announcement was made to staff earlier today.
A spokesperson states CEO of parent-company Woolworths Holdings, Ian Moir, will act as interim Chief Executive until a replacement is found.
Thomas was promoted from David Jones’ Chief Operating Officer to Chief Executive in September 2017. He held the COO role for over four years.
Mr Moir boasts over a decade of experience in local retail, formerly the head of Country Road for over ten years.
[David Thomas]
The iconic Australian retailer has not been immune to Australia’s soft retail landscape, with rival Myer tipped to report lower than expected Christmas sales.
In its November trading update, Woolworths claims David Jones’ comparable store sales lift 2.4% in the last quarter, with overall sales climbing 2.9%.
Online sales now represent 5.2% of total sales for the department store.
