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Former David Jones Ltd (ASX:DJS) boss Mark McInnes will return to retail as the chief executive of Premier Investments Ltd (ASX:PMV). He will start his new role on April 4.
In a company statement, McInnes has a mandate to pursue growth opportunites. Premier is tipped to be considering the purchase of Colorado retail group, which is in financial difficulty, owing more than $400 million.
The retailer brought forward its half-year results and recorded a 7.1 per cent fall in first half profit because of a poor performance from Just Group.
Premier Investments recorded a $79 million profit for the year ended 30 July 2010.
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