SYDNEY, March 11 (Xinhua) -- Australia's up-market department store chain David Jones on Tuesday confirmed Paul Zahra will be continuing in his current role as chief executive officer (CEO) and managing director of the company.
The Australian retailer also said that the external search for a CEO replacement has been called off.
Zahra announced in October 2013 he would step down once the company found someone to replace him.
In a statement released on Tuesday, David Jones Chairman Gordon Cairns said he was delighted to announce that Zahra has committed to stay on as CEO and managing director of David Jones.
David Jones on Monday appointed former Westpac director Gordon Cairns as the company's new chairman, replacing Peter Mason, who announced his departure in February.
The company has recently received a merger proposal from rival Myer, which it is currently reviewing.
"My commitment and loyalty has intensified in recent months given the changes and uncertainty that the business has experienced," Zahra said in the statement on Tuesday.
"I am very grateful and humbled by the support I have received from our new chairman, the board, our shareholders and staff, and I feel a renewed sense of purpose and commitment to the business."