SYDNEY Oct 21 David Jones, Australia's
second largest department store chain, said Chief Executive Paul
Zahra was resigning for personal reasons and would leave the
company once a successor was found.
"Whilst much has been achieved and the company is well
placed for the future, I believe it's time for a change for me
personally," Zahra said in an emailed statement. He was
appointed CEO in June 2010.
The announcement comes three weeks after the high-end
department store reported a 5.9 percent fall in full-year profit
after booking a one-off charge to offload the management of its
electronics business to privately-owned Dick Smith.
Australian retailers have been facing tough trading
conditions, with shoppers slow to respond to record low interest
rates and increased competition from online and international
(Reporting by Colin Packham; Editing by Edwina Gibbs)