Retail in Asia

In People

Dick Smith boss Nick Abboud departs

Only a week ago, when receivers were brought in at ailing electronics retailer Dick Smith, its high-profile chief executive, Nick Abboud, offered to remain with the group to help sift through the debris and sort out whether the corporate carcass could be sold.

By Monday night he had resigned, having had a change of heart.

Abboud came up through the ranks at department store giant Myer, and had long been viewed as one of its bright younger stars, but, along with several senior executives, left after giving up hope of getting a shot at replacing its then long-serving chief executive, Bernie Brookes.