Kirkcaldie & Stains’ financial controller, Orsola Del Sante-Bland, will take Shewell’s place as acting CEO. She will lead the heritage department store’s management team during its transition period as the store is taken over by South African-owned David Jones, stepping aside on February 1 2016.
Clouston announced earlier this month that a satisfactory seismic assessment for Kirkcaldies’ premises had been achieved, satisfying one condition on the agreement with David Jones.
Remaining conditions are:
- The approval of Kirkcaldie & Stains shareholders being obtained by the end of July.
- Consent of the Lambton Quay premises’ landlord being obtained by July 2.
- The Overseas Investment Office’s consent being given to the purchaser by the end of November.
Further details of the transaction are expected in mid-July.