News: DJs CEO steps down

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David Jones Limited (ASX:DJS) Chief executive Paul Zahra is stepping down from his role, citing personal reasons.

 

Mr Zahra will remain at the helm, with the board's support, until a successor is chosen.

 

His shock resignation comes only three years and four months after he replaced Mark McInnes following high-profile sexual harassment claims.

 

David Jones chairman Peter Mason said Mr Zahra would leave the retailer in a solid financial position.

 

But some analysts say the move will likely disrupt the business, which last year began a future strategic direction plan to cut costs.

 

David Jones generated a net profit of $95.2 million in fiscal 2013.