The Former CEO of JB Hi-Fi Richard Uechtritz is set to rejoin the consumer electronics retailers board in 2011 after a one-year break.
When Uechtritz quit the company as CEO earlier this year, shares dived on the news, despite the company booking a 29 per cent jump in interim profit and lifting its dividend by 120 per cent.
The stock fell $1.03, or 5.1 per cent, to close at $19.07. Today the shares are trading at $18.95. In June Uechtritz joined the board of Seven Media.
The new CEO of JB Hi Fi, Terry Smart, who spent 12 years working alongside Uechtritz is currently facing a tough trading market, but despite the conditions he has managed to grow the business 12% during the last quarter Vs a decline for Harvey Norman and only 0.6% growth for Dick Smith.