Ex- DJs boss re­turns to re­tail

Townsville Bulletin - - Investor -

RE­TAIL sec­tor in­vest­ment firm Premier In­vest­ments Ltd has ap­pointed for­mer David Jones boss Mark McInnes as chief ex­ec­u­tive of Premier Re­tail as the com­pany faces ‘‘ ex­tremely chal­leng­ing’’ con­di­tions.

Mr McInnes re­signed from David Jones in June 2010 af­ter ad­mit­ting to be­hav­ing in­ap­pro­pri­ately to­wards a fe­male em­ployee of the com­pany.

For­mer pub­li­cist Kristy Fraser-Kirk dropped a $ 37 mil­lion sex­ual ha­rass­ment law­suit against David Jones, Mr McInnes and nine direc­tors in Oc­to­ber 2010 af­ter the re­tailer set­tled for $ 850,000.

Mel­bourne-based Premier an­nounced the ap­point­ment of Mr McInnes yes­ter­day as it re­ported a lower first half net profit, which the com­pany said had been pulled back by a dis­ap­point­ing re­sult from the Just Group cloth­ing busi­ness. Just Group’s brands in­clude Just Jeans, Jay Jays, Port­mans, Jac­qui E, Peter Alexan­der, Dotti and Smiggle.

Premier chair­man Solomon Lew de­scribed Mr McInnes as one of Aus­tralia’s most suc­cess­ful re­tail­ers, who had trans­formed lux­ury depart­ment store David Jones and cre­ated sub­stan­tial share­holder value.

Mr Lew said in a mar­ket brief­ing he would not com­ment on ‘‘ past events that did not in­volve Premier’’.

Mr McInnes said he was de­lighted to be back in the re­tail busi­ness.

Premier’s Sol Lew and Mark McInnes

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