Fantastic Holdings’ chairman Julian Tertini remains under pressure from shareholders to privatise the furniture retailer, after a series of senior executive departures.
Shareholders have welcomed Fantastic’s appointment of a new retail chief executive – former Woolworths and Dick Smith executive Debra Singh – but say the company would be better off in private hands.
Ms Singh, who currently runs the retailer’s largest furniture chain, is Fantastic’s fourth retail chief executive in five years. She takes the reins from Stephen Heath, who quit unexpectedly in January, reportedly after a dispute with Mr Tertini over the payment of long-term incentives.
(Source: The Sydney Morning Herald Online)