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.
