Woolworths bolsters David Jones team
In this article (4)
South African retailer Woolworths has bolstered the board of its Australian subsidiary, Vela Investments, the vehicle for its AUD2.1 billion (USD1.63b) takeover of David Jones last year.
Woolworths has appointed four new directors to the Vela Investments board – corporate adviser Patrick Allaway, David Jones acting chief financial officer John McRae, Woolworths’ finance director Reeza Isaacs, and Woolworths’ chief operating officer Daniel Ngumeni.
They join Woolworths chief executive Ian Moir, David Jones chief executive Iain Nairn and David Jones chief operating officer David Thomas on the Vela board.
Questions & Answers
Q.What is the purpose of Vela Investments?
What is the purpose of Vela Investments?
Vela Investments is the Australian subsidiary of Woolworths and the vehicle used for its AUD2.1 billion (USD1.63b) takeover of David Jones. It serves as the primary entity for this acquisition and subsequent management.
Q.Who are the new appointments to the Vela Investments board?
Who are the new appointments to the Vela Investments board?
Woolworths has appointed four new directors: corporate adviser Patrick Allaway, David Jones acting chief financial officer John McRae, Woolworths’ finance director Reeza Isaacs, and Woolworths’ chief operating officer Daniel Ngumeni.
Q.Which individuals from Woolworths and David Jones were already on the Vela board?
Which individuals from Woolworths and David Jones were already on the Vela board?
Woolworths chief executive Ian Moir was already on the board. From David Jones, chief executive Iain Nairn and chief operating officer David Thomas were also existing members of the Vela board.
Tags