David Jones Puts On A New Pair Of CEO Jeans
David Jones has a new CEO in former Levi Strauss executive Roy Bagattini, following the departure of Ian Moir in 2019 after nine years in the top job.
Appointed by South African parent company Woolworths Holdings, Bagattini will replace Moir when he steps down in February this year due to personal reasons.
It comes following a write-down of $437.4 million on the department store after Woolworths Holdings conceding on challenging trading conditions and a downturn in sales.
Having run the US Levi Strauss’ business for over three years, Bagattini’s appointment saw Woolworths shares jump more than 9% in Johannesburg.
In a statement, Woolworths Chairman Hubert Brody described Bagattini’s experience in global consumer and retail markets as ‘invaluable’ to David Jones as they continue to ‘navigate the structural changes taking place in the retail sector and the challenges particular to our group’.
The statement echoed sentiments from the incumbent, with Moir claiming there is room in Australia for only one high-end department store.