Timing is everything. Last week, David
Jones CEO Mark McInnes signed a new contract which gives him a base
salary of $1.45 million, up around half a million a year, a bonus of
between 100% and 150% of that figure, and millions of dollars a year in
retention and bonus shares based on long-term growth. All up, his new
salary could be as high as $5 million a year if David Jones performs at
its peak.

So what are we to make of the timing of this disclosure in the Sydney Sun-Herald
gossip column on Sunday? Under the headline “David Jones boss in
marital split,” the article revealed that McInnes had split from his
wife Fiona, after five years of marriage. McInnes confirmed the split
saying it was painful, as all separations are.

But with that new
contract in place and on the table, it will be more financially painful
as well. Lousy timing for McInnes, but maybe good timing for his wife
in any divorce settlement.